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Small businesses are bracing for a year of labor shortages, inflation woes and reduced consumer demand even as they grow hopeful about recovery from the COVID-19 pandemic, recent studies show.

United statesSamford universityPark cityA goldman sachsBen johnstonRonnie sloneKhari parkerRhonda siderisMichael austinBrett sussmanPublic policy researchNational centerBureau of labor statisticsAmerican expressNational federation of independent businessSmall business administration