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 (41-50)
Yes I agree.
I am an insurance broker and the issues you raise have no affect on my business. I don't control the pricing, the insurance companies do, there is no inventory and no need for employees. My business is doing great and growing each year.
No doubt, much of these problems are created by the political winds in the country. Washington is not interested in small business problems and is detached from the reality of average Americans. The recent change in direction form America first to fantasy globalism also effects the supply chain and operational costs. Additionally, our wonderful country suffers from a large percentage of uninformed citizens.
People are very frustrated..we cannot give them a accurate cost or time..because of changes daily..our part time people are quitting for more money to stay home..we don't want to have employees do work at home due to privacy policy..I guess the government has no problem with that..but my company is built on privacy and honesty also someone to actually talk to you..I believe in testing..not having to feel friend ,worker,or neighbors..including visitors..maybe infected..may we all live ,share and fight together❤
Our costs have remained consistent. Inflation is so not an issue, we're planning to relocate so we can grow. We have no problem finding highly qualified employees, but we start at $15 hr. It's an employee's market, they can be choosy about where they will work and aren't going to apply for low pay/high risk jobs. If a business can't afford to pay a living wage, they are going to have problems finding and keeping employees that quickly move on for higher pay. Locally owned small businesses are growing at a record pace in the Outdoor Recreation industry and it's trickling out into communities everywhere.
Labor is extremely difficult to find and getting more expensive.. Materials are also the same..
When politicians flood the economy with “stimulus” money, you have more dollars chasing less product. This eventually will collapse the dollar, which I believe, is intentional. The current administration wants a cashless society. This “Reset” will potentially turn this great country into Venezuela.