Inflation Leaves Small Business Owners in a Bind

Inflation in the United States is currently ever-present and not good. It’s making life increasingly more difficult and unaffordable for everyday Americans who’ve had a rough go of things over the past two years.

Meanwhile, as inflation worsens, the White House continues lying about the gravity of the situation. They first started off by denying that inflation was a threat or a problem; then, when the presence of inflation became too strong to deny, the Biden administration dismissed it as “transitory.”

Since inflation is lasting far longer than what would be a transitory stage, the White House is now claiming that various producers are being greedy and jacking up prices.

Quite frankly, there’s no telling what the Biden administration’s next lie will be when it comes to inflation; however, this current strain on the economy has officially put small business owners in a bind, as confirmed by Washington Examiner.

The Struggle of Small Businesses in 2021

Per Small Business Economic Trends, the net percentage of small business owners who are hiking their prices comes out to a 59% net. Between inflation, labor shortages, and ongoing complications with the supply chain, small business owners are having a rough time.

The amount of small business owners who are not projecting better circumstances overall is rising to levels that haven’t been seen in years. The reality of more proposed tax increases and mandates also isn’t doing small business owners any favors.

With the holiday shopping season here, many small businesses are hopeful that they can bounce back and increase their profits to some degree. In times such as these, it is more imperative than ever for consumers to shop small.

Even a little bit can go a very long way, especially in light of all that today’s small business owners are up against. Small businesses play a vital role in the community; however, their longevity is directly connected to profitability.

Relief on the Way?

Contrary to what Democrats may claim, relief for small businesses will not come in the form of more spending bills. It’s going to require less spending, less intervention, and less taxation from the government.

With less government spending, inflation goes down, thereby taking an immense load off the shoulder of both small businesses and consumers. When consumers have more money in their pockets, they are in a stronger position to support the small businesses within their communities.

This past weekend, Americans learned the highly expensive and disastrous spending bill known as Build Back Better does not have the votes to make it through Congress. Therefore, this rejection of more government spending could bring relief to small business owners in the long run.

Do you think the road to recovery is in sight for small business owners? Let us know below in the comments section.