More than a third of small businesses can’t pay rent, newly released data shows.
The small business network Alignable released new survey results that found that 35 percent of U.S. small business owners “could not pay their rent in full or on time in June.”
“Most small business owners attribute this worsening situation to record-breaking inflation, which includes escalating gas, labor, and supply costs,” Alignable said. “Simply put, there’s less money available to pay the rent.”
According to the survey, rent increased for 48 percent of small businesses this month. Meanwhile, rent delinquencies have continued to increase all year.
“This is the highest rate of U.S. rent delinquency among SMBs this year,” the group said….