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As inflation soars, major corporations are posting record profits. But small businesses are feeling the squeeze
With prices on the increase, Mindy Godding’s little business Abundance Arranging held a crew meeting. Employees of the Richmond, Virginia-based mostly business, which helps folks declutter or downsize and unpacks after house renovations and moves, were sensation the pressure of soaring costs. Spending for fuel just to get to clients’ properties – sometimes as significantly as an hour away – was having into their paychecks. The company immediately redistributed funds in the funds and gave group associates who traveled $25 gasoline playing cards. But the shift was only a momentary deal with. Godding did not see the problem heading away any time shortly, so just weeks afterwards, Abundance Organizing lifted…