Will Inflation Affect Your Recovery? Take Our Poll
POLL | COVID RECOVERY | We've seen some early signs of recovery in certain sectors of the small business economy, but we've also heard from several of you that you're facing increasing costs & fears of inflation. Are your supply costs climbing? And how are those increases affecting your business?
So, please take a few minutes to share the latest on your recovery & any concerns about inflation. And thanks in advance for your input, which we'll share with policymakers & the media next week. Take our survey here:
As always, we appreciate your input. Please take a moment to see our April Road to Recovery Report, and/or our April Rent Report, if you haven't seen them yet.
What You Told Us Last Month
The chart below was included in April's Road to Recovery Report, showing that concerns over the rising costs of supplies have, indeed, elevated as of late.
Two months ago, 9% of those polled cited this as their primary worry.
Last month, that number jumped to 12%.
And, as of our last poll (3/27/21-4/1/21), this concern has elevated again, reaching a new peak: 17%.
It will be interesting to track what this late-April survey reveals.
Media outlets including The New York Times, The Wall Street Journal, Business Insider, Yahoo News, Axios, NBC, NPR, CNN, The Daily Shot, Motley Fool, and hundreds of others have used data from the reports (provided by you and other members) to tell the world what's really happening among small businesses. Thanks again for all of your help.
And please feel free to post additional thoughts in our comments section below -- also noting if you would be open to a potential media interview at some point. Often journalists ask our Head of PR to speak directly to members for their stories, if you are so inclined.
Comments (11-20)
Finding employees has never been so difficult. We have the work now, and the wages are high, and there is little to no interest
Materials have sky rocketed. Quoting is becoming a challenge and customers are not receptive to the major price increase.
Last year, All booked live shows except 1 were cancelled. Our governor’s restrictions on live music has killed est. 85-95 percent of my business income. The future isn’t looking much better as people who used to hire quality entertainment are now using smaller and “cheaper “ in every sense of the word entertainment if at all.
Tax increases will cause extreme inflation. ALL businesses pass the cost on to consumers, or cut employees ... absolutely NO exceptions. Anyone who believes otherwise has their head in the sand. Canceling our energy independence has raised energy costs and that will only continue to increase. In turn, the cost of EVERY item purchased will escalate! How China must be rejoicing and gloating over our stupidity. Then again, it has been quite obvious our currant politicians seem to also despise this country and all it’s economic successes, opportunity, and freedom. Why else would they do nothing but apologize for this country?
Been getting a lot worse. Where my lead time on products are getting to where it is months now versus maybe a couple weeks. My suppliers are saying they cannot get products from manufacturers due to no material to make it. Especially the metal industry side of it products wise.
For the economy to recover - shop local - in store, curbside, special orders, shop local on store on line store is what will get the economy back to full throttle.
Service business's we are still struggling acquiring customers.
Gradually recovering. Since we are an event venue, people are booking, but requesting event dates later in the year or in 2022.
We heve had almost zero effect on our business. We're working with the same crew, doing the same as we did before Covid. The only problem we have is not enough product to meet the demand which is very strong.
We would like to thank everyone who has had to face these serious issues of Covid, especially those who have been extremely been personally effected by it.
We have all grown in how important our communities are and what is truly important in helping each other by following guidelines to insure each other’s safety and wellbeing.
We are very thankful for all who here supported us for their Construction needs in both home builder or just trying to adjust and improve on their existing environmental changes dealing with home offices and expanded areas of comfort for their families to better enjoy the more times they are spending at home.
We still having some trying times ahead and Patience and Respect will always be our greatest goal in helping everyone in our communities for both your building needs and the needs beyond, as we continue our commitment to support the overall needs of the communities we serve.
Please feel free to contact me on any issues in which we can provide both help or insight with.
Thank you all so much!
Jack Miller
Outside Sales Associate
Concord Lumber Corp.