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 (1-10)
It’s simple. Politicians need to take an economic class. Supply is tight so inflation is rising fast. People moving to new areas to escape higher taxes are fueling a lot of the spending. Baby Boomers are a real part of that migration and are most affected by inflation. Once inflation hits or scares the boomers this economy is going to deflate. This along with tax hikes on businesses is going to send us into a hard recession.
We are lucky we don't need additional employees now as they are hard to find because they earn more on unemployment.
When I finished my 2020 tax returns I discovered that my llama trek business had a 2020 income 5 times that of the past. It seems that llama treks, birthday parties, scout hikes with llamas, and other llama events for kids are very popular now. Out of doors, separation, etc. It's very healthy exercise.
Politics are ruining the small business.
goverment has made it easy for people to stay home . plenty of jobs out there !
We are very busy, can't hire help with all the gov. give aways, harder to get supplies also price increase and slower deleivery
This new administration is a business killer.
I see can see business destroyed that can never be repaired.
It appears that we’re heading for disaster
Sustainability continues to be a challenge with significant increases in shipping costs and availability of product. Overhead continues to climb at a rate not commensurate with income. With 20 yrs in business, I'm wondering if it's time to bail.