Although close to half of today's small businesses have had layoffs or plan to do so soon, 92% also plan to hire new talent, according to Counterpart's 2023 Small Business Insights Report. (Credit: Parradee/Adobe Stock)

Small businesses continue to struggle to manage high inflation, supply chain headaches and labor challenges, but most feel optimistic about the future, according to the 2023 Small Business Insights Report prepared by the insurtech Counterpart.

"The resilience and agility of small businesses continues to be tested by an increasingly volatile operating environment," Counterpart CEO Tanner Hackett says in the report's introduction. "They have had to make some difficult decisions that impacted their operations and employees over the last few years, but maintain a positive outlook."

The report gathered insights from 300 small business owners and CEOs nationwide. From those interviews, researchers determined that 45% of CEOs and small business leaders believe the economy has improved over 2022, and 53% are optimistic about the future. Business leaders in the finance and banking sector appear most optimistic about the future followed by those working in tech and the food and beverage industry.