Inflation and Hiring Woes Threaten Local Small Businesses
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Local small businesses like a gelato shop and sewing machine company are struggling to survive with inflation, supply chain issues, and hiring difficulties.
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Inflation has caused significant increases in costs of production, supplies, and rents, while sales have dropped.
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Business owners have tried raising prices and adapting offerings, but hiring reliable staff is still a major challenge.
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Experts advise small businesses to build banking relationships, keep detailed records, raise prices when needed, and pivot offerings to changing customer needs.
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Some small businesses are surviving by emphasizing expertise, service, community relationships despite ability to buy online or at big retailers.