As a result of “cumulative pressures” of inflation, rising rates of interest, fears of a recession and bank failures, small business owners polled by Alignable are experiencing fading optimism. Those polled are seeing lower sales, profits and customer counts — leading to struggles to pay rent.
Chuck Casto, head of research, corporate communications and news at Alignable, said the present state of small business “might be summed up best with two words: economic backslide. Casto said the survey tapped 4,235 randomly chosen small business owners. He said historical responses from one other 695,000 small business owners were also included within the report.
The study found that 74 percent of respondents are concerned about rising rates of interest, while 27 percent said current...
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