According to a recent survey by SurePayroll, the nation’s largest online payroll service provider for small businesses, 41% of small business owners are pessimistic about the economy. That’s an increase of over 24% from the last poll taken just one month ago. Slow hiring and rising salary costs in recent months are being cited as leading indicators of an ever-increasing inflationary environment.
Of those surveyed, 53% have seen their costs of doing business rise over the last several months. Moreover, 79% have not raised their prices or passed those cost increases onto their customers. However, if things do not turn around soon, 35% of those small business owners may have to begin passing those increases on to their customers.
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