Small business owners hope economic uncertainty doesn't slow spending this holiday season

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Consumers spent an estimated $23 billion at small businesses and restaurants on what is known as Small Business Saturday in 2021, and the Small Business Administration is hoping for a repeat performance this Saturday.

could temper consumer spending and rising interest rates makes borrowing money on credit cards or through loans and mortgages more expensive for everyone.

"Right now business is good, but how much longer is that going to last?" he said. "We can hope it'll last for a long time, but there's so much uncertainty now. We could have a recession sometime in the next couple of quarters." Consumers we talked to at Djomo's bakery plan to support him and other businesses as much as possible.

"I'm so glad that we found it and I think we're going to be coming here for the croissants," said customer Judith Alvarenga.The hope is it's enough to keep the doors open in the coming year.Davis says everybody should be prepared for some fairly sudden changes in the economy in the coming months.Trending

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