They survived the pandemic to battle inflation. Next up for small businesses: dealing with what recession could mean for their bottom line and growth opportunities.
Some 75% of small business owners said that inflation negatively impacted the health of their business in the Goldman survey. Of those, 62% increased wages in relation to inflationThey've also had to pass along high prices to their customers. However, small business owners are walking a tight line between dealing with their own rising costs and keeping their customers, with 53% raising prices by less than 10%.
Now she's holding her breath to see how the rest of the year goes. She's even put plans for a larger kitchen on hold. They plan to advocate for solutions to the challenges they are facing and ask them to reauthorize the Small Business Administration for the first time in over two decades.
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