Four in ten of U.S. small businesses intend to raise selling prices by 10% or more amid rampant inflation says a National Federation of Independent Business survey. More than two-thirds of respondents plan to increase prices in the next three months, and almost half of the small firms are planning increases of 4-9%. This suggests that many businesses are planning increases above the current national inflation rate— the consumer-price index rose 8.5% in March. Nearly 90% of employers in the survey said they have needed to raise prices to absorb these extra costs.
Struggling financially? Call our office at 816-524-4949 or click here to schedule a free consultation to discuss your options.