Many small-business owners haven’t taken a break in 2022 or longer, and 2023 is filled with potential hurdles.said they had not taken time off in more than a year. About half of small-business owners say taking time off stresses them out and 85% said that even when they do take time off from work, they continue to check in.significant implications.
About 52% of small businesses said their profitability has not met their expectations, and 79% have raised prices compared to last year. Meanwhile, about 40% of owners said customer demand has decreased compared to last year. Small businesses report a variety of factors that contribute to not paying rent, including higher rents overall, declining revenue, less consumer spending and higher costs. Overall, about 40% of retailers expect to make less in the fourth quarter of 2022 than they did in the fourth quarter of 2021. But there is some positive news. Inflation, as measured by the Consumer Price Index, showed some signs of easing, with prices rising about 7.1% year-over-year. That is down from 7.
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Source: CNBC - 🏆 12. / 72 Read more »