Small businesses are the bedrock of the economy. Their contributions create jobs, resources, and opportunities for communities nationwide. Without the greatness of small businesses, America would be considerably worse off.
Yet, despite the importance of small businesses, they’ve been under siege from Democrats for years now. In 2020, when small businesses were forced to shut down over COVID-19, large companies and big box stores were allowed to keep operating.
Some small businesses didn’t make it. Others that did are still not completely out of the woods.
Meanwhile, the current inflation crisis under Joe Biden’s presidency is causing a very serious problem for this country’s small businesses.
A Horrible Turn of Events For Small Businesses
A small business organization, Alignable, recently revealed that 35% of small businesses are struggling to make on-time rent payments (or make rent payments at all) last month.
Inflation means that small businesses have to spend more money on inventory supplies and overall labor.
Likewise, as gas prices go up, running basic errands becomes more expensive. In many communities, the costs of rent have soared along with just about everything else.
Contrary to what Biden officials may think, inflation is not a “high class problem.” Rising costs for basic necessities hit middle and working class families, small businesses, and farmers the hardest. We need to start producing oil & gas here at home and bring down inflation.
— Mike Pompeo (@mikepompeo) June 25, 2022
This leaves small business owners in a bind where their expenses are far exceeding their revenue. In fact, a recent update from The Center Square confirms that 51% of small business owners believe the upcoming six months could make them shut down altogether if prices keep rising.
Consistent backlogs in the supply chain aren’t helping matters either. Some small business owners are facing so much pressure that they’re docking their own salaries and having to increase their rates just to avoid going under.
No Relief Anytime Soon?
Unfortunately, the president has demonstrated absolutely zero willingness to take proactive measures to lower costs and give relief to small businesses.
During one of Biden’s recent press conferences, he confirmed that gas costs will remain indefinitely high until the war in Ukraine is ironed out. Of course, an affair of this magnitude could last for years on end.
American small businesses, grocers, restaurateurs, and families will feel the impact of President Biden’s inflation this 4th of July. pic.twitter.com/323X5YmQbF
— House Committee on Small Business Republicans (@HSBCgop) June 30, 2022
Both directly and indirectly, the Biden administration repeatedly conveys its view that higher costs for the public are acceptable terms for pushing a broader Democratic agenda.