The record-breaking inflation rate was cited as a leading impediment to small businesses still recovering from the impact of the COVID-19 pandemic, according to a survey by Alignable. It was the second consecutive month inflation was cited as the leading concern among small businesses.
In the 20 months since the pandemic, 73% of small businesses have yet to fully recover, an 8% increase since July and a 3% increase since October.
According to the survey, 90% of small businesses reported fears that inflation will negatively impact their recovery, and 48% reported being “highly concerned” about inflation.
The full report can be found here.
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