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Marketplace Issues

Marketplace Issues

With the inflation rate hovering around 6%, many small business owners feel the squeeze. When costs rise, profit margins shrink, and owners must act to keep their businesses profitable. According to the Bureau of Labor Statistics, high inflation rates are driven by significant increases in food, shelter, and gas prices. “Increased energy prices, supply chain disruptions, and labor shortages have a significant impact on the cost of doing business, “Mechele Agbayani Mills, President and CEO of BBB Central East Texas said. “Business owners are struggling with how to respond” BBB recommends the following to minimize the impact of inflation on your business.

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