Just as small business hiring problems diminish, inflation rears its ugly head

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Just as the pandemic began showing signs of easing, the economy was hit with the highest level of inflation in four decades. Not surprisingly, more than two in 10 small-business owners rank inflation as the most important and immediate problem they face.

The impact of inflation on small businesses also is reflected in pricing trends. The number of business owners reporting a large increase in what they paid for goods and services jumped from 28 percent in mid-August 2021 to 36 percent by mid-January of 2022. Anecdotal stories about the ways small business have struggled with inflation and rising prices are reflected in daily news reports.

Join our LinkedIn group, ALM’s Small Business Adviser, a space where small business owners can gather to network, have discussions and keep up with the trends and issues affecting their industries.