Small business profits are sinking as owners get squeezed by rising labor costs and energy prices spiking from the Iran war. Why it matters: Businesses with fewer than 250 workers created half of all new jobs over the last half-decade. The big picture: Entrepreneurs are dealing with "persistent concerns around labor availability, inflation and uncertainty about the economic outlook," according to a new report from the Bank of America Institute. Zoom in: Small business profitability in April suf