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 (31-40)
Customers do not like rising prices and when you combine not having a supply of people who want to work we have to hire them at higher wages then our existing employees need to have their wages adjusted or they want to leave our leadtimes have been impacted which also cause customer disatisfaction
High cost of all flowers are due to growers limited growing flower amounts because of COVID-19 . This created a shortage of flowers on the market. Roses in particular had Weather problems also.
Current administration doesnt care about small businesses. Gas and food costs are rising so fast. People are going to stop paying me to remodel there homes.
B to B starting to pick up for us. 🙏
Doesn't it also seem likely that as all the world governments print money that inflation is going to have to increase for real world goods and services despite the market manipulations performed by the Fed and their peers worldwide?
Appreciate your interest in small businesses. In our case we had enough clients and income to overcome most of these difficult times, more fortunate than many.
We have seen an uptick in new business lately and expect this to continue throughout 2021. Several clients want help restructuring their business to comply with the “ new “economic conditions left behind by the pandemic. Interesting times ahead.
Best Carl
We’ve been especially fortunate because since the pandemic started our short term rental house in the Outer Banks has been rented more than past years. Every single weekend all through the fall, winter and spring has been rented. Dare Co NC did close March-May 2020 so we did loose 3 months rental income. But we are in a financial position to pay our bills on the house without the rental income.
The USA is no longer leading the way. Spending is totally out of control especially on issues or segments of the economy that don't produce anything. Social Engineering is the root cause. The country is absolutely bankrupt. It can not even pay the interest on the 30 Trillion dollar debt owed to the Federal Reserve Bank. Increasing taxation will only exacerbate the problem. I can't find people to work for my company because they are already making more on unemployment than I can afford to pay them to work. Politicians just don't get it.....they've not lost a payday yet due to Covid 19. They are still living the good life behind barbed wire and aren't affected by lockdowns.
Training new employees is especially difficult since it is a highly interactive and hands-on exercise which cannot be done remotely. So staffing up after losing a few employees can be very challenging...