Government Watch / Politics

Inflation Ranks Highest Among Small Business Concerns Since 1981

Inflation

In NFIB Small Business Optimism Survey, businesses report struggling with record inflation, supply chain disruptions, finding workers

Small business owners are struggling to manage their businesses and hire workers due to Bidenflation, the December Small Business Optimism (NFIB) Survey showed.

Business owners remain pessimistic about future economic conditions too – optimism has declined 23 points over the past six months as small businesses brace for tax hikes and higher inflation due to President Biden’s tax-and-spending binge.

  • Facing the highest inflation in 40 years, almost a quarter of small businesses agreed that inflation is the biggest problem in operating their business–the highest inflation has ranked since 1981. Two-thirds of businesses have had to pass costs onto consumers in higher selling prices due to Bidenflation.
  • A third of small business owners report that President Biden’s supply chain disruptions have impacted their business significantly.
  • Half of small businesses reported job openings they were not able to fill.

CLICK HERE to read the full report.

KEY TAKEAWAYS:

Bidenflation is crushing America’s working families and small businesses.

  • The American people ranked concerns about inflation at a record high for the second month in a row in the December Survey of Consumer Expectations.
  • The November Producer Price Index (PPI) showed a record number of small businesses being forced to consider price increases, which are passed onto consumers.

READ: Price-mageddon: Historically High Number of Small Businesses Forced to Raise Prices

Democrats’ trillions in spending has devastated our recovery.

  • Job creators are struggling to retain workers. The Job Opening and Labor Turnover Survey (JOLTS) reported that a record 4.5 million workers left their jobs in November.
  • Democrats continue to push for policies in their next $5 trillion spending bill that hold back our recovery, raise taxes on job creators, and keep Americans from reconnecting with work. 

READ: Study: Biden’s Unemployment Bonus Held Back Economic Recovery


Reprinted with Permission from - US Committee on Ways and Means

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David Millikan
4 months ago

Convention of States.

HocasPocas
4 months ago

I happen to know a lot of people who are searching for employment but they are told by these so called employers that if you don’t have the shot they don’t want you to work for them. We also have a local hospital that has at least fourteen floors and they have people lying in the hallways but have no one working on floors above the fourth. Claim that they cannot afford to have those other floors in operation. What the hell is going on? Maybe they aren’t getting paid for positive Covid tests, patients hooked up to ventilators and Covid deaths reported anymore.

HocasPocas
4 months ago
Reply to  HocasPocas

Or just maybe they are getting paid a lot more for shutting down two thirds of their operations. You know government economics

PaulE
4 months ago

Well one of the big benefits of higher inflation for large companies is that it crushes their small business competition, who don’t have the means to weather prolonged periods of higher costs that drain the business. Things like having to pay excessively higher salaries to keep up with the big chains, higher transportation costs because of bad Democrat energy policy and overall inflated prices for everything essential to keeping a small business open is something the large companies can easily weather. Then when much of their small business competition has gone out of business, the larger companies simply pass on the higher costs to the consumer that has nowhere else to go. I guarantee you that companies like Walmart and Amazon, both big Democrat donors, are having a field day as they watch mom and pop small businesses across the country being put out of business by the higher costs due to inflation.

Morbious
4 months ago
Reply to  PaulE

The big boys are also fond of regulations because they destroy medium size businesses. Now its either stay very small or try to get big enough to drive in the fast lane. I fear the era of growing a medium size business and turning it over to your kids, already tough, will become impractical.

PaulE
4 months ago
Reply to  Morbious

Yes, that will be especially true if the Democrats ever get their desired wealth tax or unrealized capital gains tax enacted into law. Given how Elizabeth Warren envisions the scheme working, it would be a death by a thousand IRS cuts. Small and medium size businesses, which don’t have multi-million or multi-billion cash reserves readily available, would find themselves forced to annually sell off assets of the business just to cover the annual income tax bill. Thus quickly driving small and medium sized businesses out of business.

Bill T
4 months ago
Reply to  PaulE

Ok, we all understand basically how and why our capitalist system works, basically a domino effect where everything is connected and that’
Allows everyone to be somewhat successful, well if the supply chain is critically interrupted for any period of time it could be devastating to all parts of the universal system . We’ll guess what’s happening right now? This isn’t just happening because of the virus, it’s all part of the purposeful strategy of the progressive leftist and globalist takeover of everyone and everything. Destroy capitalism and small enterprises Teri labor shortages and keep the work force fed thru government assistance and then starve small businesses out . Now you pick and choose who wins and who’s on the bread line . Trust me we’re not on there elitist list and never will be. This must stop now or we’re going to be a communist country.

pete kennedy
4 months ago

Inflation is definitely the biggest issue.
It causes an immediate impact on salary and an immediate impact on all of
“cost” items not under my control.

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