More than 54% of small businesses say their top concern is inflation, according to the latest quarterly report from the US Chamber of Commerce, even though the rate of inflation has eased since it peaked in the middle of last year. number still many companies suffer from high costs.
In this sense, half of the respondents indicated that the most stressful factor is the constant increase in the number of products on the market, which scare away buyers and reduce sales, causing large losses.
According to Chamber Vice President for Small Business Policy Tom Sullivan, companies are currently resilient and remain optimistic; however, he claims that the most predictable difficult times for the country’s economy as a whole and the fear of being overwhelmed.
The inflation rate was 6.0%, according to February data from the Bureau of Labor Statistics (BLS), and despite the Federal Reserve continuing its struggle to raise interest rates, many small business owners have indicated that financial regulators are not taking sufficient action.
“When it’s harder to find and hire employees; keep existing employees, or if they have to raise the wages of their workers, small business owners call it inflation,” Sullivan said.
Source: La Opinion
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