According to the survey, 28% of businesses say they’re doubtful about the future, and 18% said they will completely shutter.
Businesses are feeling the brunt of the supply shortages, said Brian Calley, CEO of Small Business Association of Michigan.
He gave an example saying one restaurant stopped buying turkey slices—and instead began slicing it themselves.
“The price you set this week or this month might be okay, but that could change overnight," Calley said. "There’s also a sense that there’s only so much the market can bear to get, you know, the cost of chicken wings for example might just be so high this month that what they’d have to charge would be outrageous.”
Michigan has an older-than-average population that’s been retiring, and not a high enough birth rate to support replacement, he said.
"Inflation I think will get worked out overtime," he said. "The longer term concern is workforce shortages. Given our demographic trend, there’s really no reason to believe that’s going to get any easier any time soon."
Supporting local businesses and being patient with stocking issues can help them stay afloat, Calley said.