Concerns are looming amongst small business owners about the U.S. economy. A Downingtown construction company president has some opinions. AEONRG’s Bill Belknap said that he has found that higher inflation is impacting his bidding prices, when it comes to government contracting, writes Kate Rogers for CNBC.

“What I see is a snowball effect with increased inflation unpredictability, with other people raising their prices … having that moderation and predictability is very significant to us achieving success,” said Belknap.  

Belknap said that he hopes that the interest rates can get back down to 2 or 3 percent.  

A new poll conducted by CNBC has revealed widespread concerns over inflation. 91 percent of respondents cited inflation as a concern, 41 percent said it was their top concern.  

Small business owners also cited concerns over labor shortage, supply chain disruptions, and the recent collapse of regional banks. Over 60 percent of the small business respondents said that they are banking with community or regional banks. Confidence over the security of their financial assets is split down the middle, writes Rogers.  

Read more about the economic concerns of small business owners on CNBC.  

Inflation is the top concern for small business owners.