New study finds optimism, along with lingering concerns, among small businesses.

As the National Small Business Week Virtual Summit winds down, a new report reflects growing optimism among S.C. small businesses, while another study points to a continued labor shortage in the state.

Following up on a February survey, Facebook's September Global State of Small Business Report found that 73% of S.C. small business owners are confident in their ability to stay open for at least 12 months, 9% higher than the national average and an 11% increase from February numbers. Higher sales were reported by 52% of state businesses, a 23% increase since February.

The results, based on a survey conducted between July and August with responses from 35,189 business leaders across 30 countries and territories, also show that S.C. women-owned businesses are faring better than earlier this year, with 43% reporting higher sales. Worldwide, both men- and women-led small businesses reported a 28% increase in sales performance in the last 30 days.

In addition to the February survey, Facebook collected data six times throughout 2020 as the COVID-19 pandemic left many business owners searching for customers and revenue.

"At every single point, the self-reported optimism for small businesses has actually been pretty high, but you are seeing some really strong numbers from South Carolina," said Diana Doukas, manager for economic impact at Facebook.

A study released today by CareerCloud, however, pointed to a continuing labor shortage in the state. The study, using data from the Bureau of Labor Statistics and online job platforms Indeed, ZipRecruiter and CareerBuilder, found that South Carolina ranks 23rd in the country with 0.93 job openings per unemployed person.

Nationwide, the study found that while the number of unemployed Americans fell to 8.3 million through Sept. 8, a record 10.9 million jobs remained unfilled.

"It's been difficult since March 2020 for small businesses," said Frank Knapp, president and CEO of the S.C. Small Business Chamber of Commerce. "A lot of them got through it OK. A lot of them didn't. A lot of them have gone out of business. That especially impacted minority business owners and women."

The Facebook study found that global closure rates among small business fell to 18% from 24% at the start of 2021, but remained higher than the 16% reported in October 2020. Worldwide, 52% of businesses continued to report a decrease in sales.

In the U.S., closure rates dropped to 16%, with 34% of small businesses reporting lower sales...