Curated News
By: NewsRamp Editorial Staff
May 17, 2024

New Survey Shows Small Businesses in Survival Mode, Preparing for Stagflation

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Source News Release

TLDR

  • Small businesses delaying bill payments and preparing for stagflation, 90% prioritize 'control the border' for a second Trump Administration.
  • May 2024 Freedom Economy Index survey of 80,000 small businesses shows 40% delaying bill payments, 70% holding staffing plans, and 64% predicting stagflation.
  • Struggling small businesses face survival mode, with many owners expressing deep struggles and doubts about surviving another 4-year term of a Biden presidency.
  • Small businesses facing cash flow issues, staffing hold, and preparing for stagflation, with stark and heart-wrenching answers from business owners in the survey.

Impact - Why it Matters

The survey highlights the significant challenges facing small businesses, impacting their ability to pay bills and plan for the future. The potential consequences of these struggles could have a ripple effect on the economy, affecting job opportunities, consumer choices, and overall economic stability. It also sheds light on the disconnect between government reports and the reality faced by small businesses, emphasizing the need for policies that address their concerns and support their survival.

Summary

The new May Freedom Economy Index survey of 80,000 small businesses found that many are in survival mode, with 4 in 10 delaying bill payments, 7 in 10 putting staffing plans on hold, and 6 in 10 preparing for stagflation. The survey, a joint project of PublicSquare and RedBalloon.work, also revealed that nearly half of businesses may not survive another 4-year term of a Biden presidency. Key takeaways include the impact of delayed bill payments, stalled staffing plans, and the bleak outlook for small businesses under a potential second Biden term.

Source Statement

This curated news summary relied on this press release disributed by Newsworthy.ai. Read the source press release here, New Survey Shows Small Businesses in Survival Mode, Preparing for Stagflation

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