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Business owners’ confidence has plummeted by about 30% since the onset of the pandemic and the number who plan to retire earlier than expected has nearly doubled, according to the latest Business Owners Outlook from Wilmington Trust, developed in collaboration with its parent company, M&T Bank.

The study was conducted Jan. 25 through Feb. 10 among 1,007 business owners, including 228 who identified as people of color, with annual revenue of $1 million or more.

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