The next 12 months are going to be harder on small businesses than anything they have faced in the last 36 months.
There is no other way to say this.
Inflation has everyone tightening their belts.
The interest rates are forcing the issue on many of the small businesses that are leveraged already.
I know one business whose mortgage on their building jumped from 10k to 16k between August and October. that is 72k/year in cash required to service debt that was completely unexpected.
Folks – your friends who own small businesses need your consideration.
Amazon is more convenient – yes.
Big Box restaurants are more consistent – yes.
But the multinationals contribute $30 for every $100 you spend while the small businesses in your community contribute $70 for every $100 you spend.
I’m not asking you to spend more. I’m asking you to think about what you need and buy and then consider seeking a local alternative over the next 12 months!
The next 12 months are going to be harder on small businesses than anything they have faced in the last 36 months.
There is no other way to say this.
Inflation has everyone tightening their belts.
The interest rates are forcing the issue on many of the small businesses that are leveraged already.
I know one business whose mortgage on their building jumped from 10k to 16k between August and October. that is 72k/year in cash required to service debt that was completely unexpected.
Folks – your friends who own small businesses need your consideration.
Amazon is more convenient – yes.
Big Box restaurants are more consistent – yes.
But the multinationals contribute $30 for every $100 you spend while the small businesses in your community contribute $70 for every $100 you spend.
I’m not asking you to spend more. I’m asking you to think about what you need and buy and then consider seeking a local alternative over the next 12 months!