Hey there! Have you ever wondered how your favorite local shops or restaurants are doing? Well, here’s some news: Over 60% of small businesses in the United States are feeling worried about the economy!
What’s Going On?
Recently, a survey showed that many small business owners are nervous about things like tariffs and a possible recession. Let’s break down what that means.
What Are Tariffs? 🤔
Tariffs are like taxes on products that come from other countries. Imagine if you had to pay extra for your favorite imported candy—that’s kind of what a tariff is!
About 66% of small business owners said they are affected by these tariffs. They worry that it makes products more expensive, and that can be tough for their businesses.
Concerns About a Recession
A recession is when the economy isn’t doing so well. Things cost more, but people might not have as much money to spend. In the survey, 70% of small business owners think a recession might be coming soon.
Why Does This Matter?
Small businesses are super important! They are the local stores, cafes, and services that we use every day. If they struggle, it can affect communities everywhere.
Feeling the Stress 😥
Over 60% of small business owners said they’re stressed about money—for their businesses and themselves. The biggest worries are:
- Inflation: Prices of things going up.
- Consumer Demand: People not buying as much as before.
What Can We Do?
Supporting local businesses can make a big difference! Next time you need something, consider visiting a nearby shop or store.
Looking Ahead 🌟
Even though things seem tough, many believe that with support and smart decisions, small businesses can get through these challenges.
Reference(s):
Over 60% of U.S. small businesses pessimistic about U.S. economy
cgtn.com
