It’s no secret that the pandemic took its toll on small business owners, but until now the true economic impact had not been measured. Biz2Credit recently published the results of its Small Business Inflation Study that analyzed the revenues and expenditures of more than 140,000 U.S. small businesses from January 2019 to October 2022. The Federal Reserve is considering another interest rate hike to curb inflation. getty The Biz2Credit Small Business Inflation Study identified three distinct phases: 1. The pre-pandemic phase up to Q1 2020. 2. The initial waves of the COVID pandemic before mass vaccination in the first quarter of 2021, when both small business revenues and expenditures fell sharply. 3. The period of gradual, partial recovery of small businesses after revenues had bottomed out in Q1 2021 and extending to 2Q 2022. Inflation persisted through the third phase. The analysis found that before COVID, the expenses of small businesses were pretty much in control compared to the revenue. However, in the post vaccine recovery and inflationary period, especially in 2021 and 2022, margins were significantly eroded. Small businesses have to work harder have to sell more to attain the same level of wealth. This is complicated by […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
