Customers shop at a supermarket in Millbrae, California, the United States, Aug. 10, 2022. (Photo by Li Jianguo/Xinhua)
Up to 91 percent of small businesses admitted that "rising prices are having either a 'substantial' or 'moderate' impact on their companies," according to a recent report by the National Federation of Independent Businesses.
LONDON, Aug. 17 (Xinhua) -- A report showed high inflation has become the top challenge for small businesses in the United States this year, The Guardian has reported.
Quoting a report by the National Federation of Independent Businesses this past month, the news story said up to 91 percent of small businesses admitted that "rising prices are having either a 'substantial' or 'moderate' impact on their companies."
And the U.S. Chamber of Commerce said that almost 70 percent of small businesses have raised prices due to inflation, the newspaper reported on Sunday.
Another survey conducted by Goldman Sachs pointed out that 65 percent of small business respondents said rising input costs have forced them to raise prices this year, according to the report.
The Goldman Sachs study also showed nearly 80 percent of respondents said the U.S. economy has gotten worse in the past three months, said The Guardian. ■