Rising Costs Add to Pandemic Pain for Small Businesses

Rising Costs Add to Pandemic Pain for Small Businesses

Coronavirus Pandemic, E-Commerce

1/16/2022 10:58:00 PM

Rising Costs Add to Pandemic Pain for Small Businesses

Sharply higher costs are yet another challenge thrown at business owners by the global pandemic.

“There’s a tremendous amount of not just risk — risk you can calculate — but uncertainty. We just don’t know what’s going to happen.” said Ray Keating, chief economist with the Small Business & Entrepreneurship Council. “Consumer demand is there, but there are just enormous supply chain constraints. All of this is feeding into price increases.”

In response, owners are raising prices, cutting staff hours, dropping some goods and services and nixing free shipping in a delicate balancing act. But with low visibility into how long the higher inflation will last, some owners are increasingly worried about keeping their doors open in the long run.

Read more: NBC DFW »

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