Small businesses are “feeling good” about the health of their ventures and optimistic regarding the future, but they’re also worried about the effects of inflation, according to a poll taken Jan. 14–26 by the U.S. Chamber of Commerce and MetLife. A third of small-business owners ranked inflation as their biggest challenge, the Chamber said in a March 29 news release announcing the poll results. This is up from 23 percent in the fourth quarter of 2021. Eighty-five percent of small business owners said they were “concerned” about inflation’s impacts, while 44 percent said they were “very concerned” about the price hikes. More than two in three businesses stated they had to raise prices due to increasing inflation. “Inflation is top-of-mind for small businesses as it continues to limit their purchasing power, forcing small businesses to raise their prices and absorb higher costs within already thin margins,” said Tom Sullivan, vice president of …
Small Businesses Worried About Inflation, Forced to Raise Prices Even as Performance Improves
March 30, 2022
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Business & EconomyCompanieseconomyhigh inflationinflationsmall business challengetax planningUSUS News
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