Bidenflation Threatens Almost Half of Small Business Owners

Almost half of small business owners said their businesses are on the brink of closing after inflation last month hit another record high.

A report published Thursday by the Alignable Research Center found that 47 percent of small business owners say they may close by the fall, marking a 12-point increase from last summer, when only 35 percent of business owners said they were at risk. More than half, meanwhile, said they expect to make less money than they did last year.

More than 60 percent of respondents said inflation has damaged their business more than the COVID-19 pandemic, the report showed. Inflation shot up to 9.1 percent in June, according to the Bureau of Labor Statistics. Economists, including former Obama administration officials, have said President Joe Biden’s nearly $2 trillion stimulus package contributed significantly to skyrocketing inflation. (Read more from “Bidenflation Threatens Almost Half of Small Business Owners” HERE)

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