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Small business owners say inflation is crushing their business: ‘Out of control’

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Inflation is affecting small businesses nationwide. With labor shortages and pricing skyrocketing, owners are trying to stay afloat. Three business owners shared their stories.

Carmelia Bello, a bodega owner in Brooklyn, New York, said inflation is crushing her business.

New York City has seen a 34% increase in total crime since 2020, with robbery up 38%, burglary up 32% and assault up 18%, according to the New York City Police Department. Teresa Bowman, a salon owner in Salt Lake City, Utah, said inflation is forcing her to pay employees more to stay working at her salon.

 

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I run a retail store. Wholesale prices on average have increased 30% in the last 4 months. And in response we have had to raise retail prices 30%. Welcome to Joe Biden's America.

Mixed in with rising interest rates.

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