Price Rises Coming as Small Businesses Juggle Costs

Small businesses facing mounting rent, power, and wage expenses may be forced to increase prices. This comes after most businesses attempted to absorb costs associated with a ban on debit and credit card surcharges. Compounding these issues are a fifth interest rate hike and global supply chain disruptions.

• Small businesses may raise prices due to increased operational costs.
• A ban on debit and credit card surcharges has forced businesses to absorb costs.
• A fifth interest rate hike is impacting smaller operators.
• The Middle East war is causing flow-on effects on fuel and supply chains.
• These combined factors are negatively affecting smaller businesses, even as the economy weakens.