Small businesses are concerned about the impact of inflation
CAPE GIRARDEAU, Mo. (KBSI) – According to the quarterly MetLife and U.S chamber of commerce small business index, a large number of small businesses are concerned about the impact inflation is having on their business.
Making it just as difficult to pay their bills and secure proper food and beverage orders.
Bon Bon’s of Cape Girardeau owner Stephenie Gardiner says she has seen the impact of inflation when it comes to buying ingredients.
“It’s just like every day I go to the store and it’s something higher every single day, and I’m not talking like a couple of cents, I’m talking dollars. Sometimes they go up two dollars,” said Gardiner.
The small business index states that 7 in 10 businesses reported raising their prices in response to inflation.
But Gardiner says that it can only go so far.
“Raise the prices on a few things, but there’s only so much you can do to raise your prices before people are going to stop spending money at [a] place,” said Gardiner.
Cape Girardeau Chamber of Commerce President Rob Gilligan says that there is a lot of discussion between businesses about impacts and pressure within the market with inflation being one of the many topics, but he has faith a positive will come from this.
“Those numbers have been strong, really strong, especially coming out of the pandemic and they continue to be a strong month over month, and so we’re seeing some real opportunity there in the community and really that service sector. That means that there are people spending time and spending dollars here in the Cape community and in the region and it’s a very positive opportunity for the region,” said Gilligan.
And Bon Bon’s of Cape Girardeau will keep pushing as long as possible.
“You just feel the love and the support and so I look at that and I think if they’re not going to give up on me, then I’m not going to give up until I absolutely have to.”