Wrangling the Many-Headed Monster

For mom-and-pop business owners, just as inflation calms in one area of operations, it rears its head somewhere else. The best way to stay on top of it, experts Say, is to stay flexible.

- By Kim Kavin

Every month, the National Federation of Independent Business asks its members to name their most pressing problem. The survey lists lots of possible answers—taxes, regulations, labor, and more-but as of April, about a quarter of small businesses continue to list inflation at or near the top of the list.

That’s down from 31% of small business owners a year ago, but it’s still a historically high level of concern about inflation.

“Anecdotally, we hear from small business owners all the time about their struggles to deal with inflation pressures. Whether it’s in the product that they sell or increased compensation, it spans all the different types of costs they have to absorb,” says Holly Wade, executive director of NFIB’s Research Center.