Asahi Pompey on Small Biz Bumping Prices Amid Inflation

The video discusses the ongoing challenges faced by small businesses due to the pandemic, including labor shortages, supply chain issues, and inflation. It highlights the need for financial support, such as the renewal of the COVID EIDL program. The impact varies across sectors, with food and retail being more affected. Labor shortages are causing operational difficulties, driven by factors like childcare and health concerns.

What are the three main challenges currently affecting small businesses as mentioned in the video?

• Political instability, currency fluctuations, and trade barriers

• Technological changes, environmental regulations, and market saturation

• High taxes, low demand, and increased competition

• Labor shortages, supply chain issues, and inflationary pressures

What program do small businesses want to be renewed to help with financial challenges?

• Small Business Grant Initiative

• COVID EIDL program

• Business Recovery Fund

• Paycheck Protection Program

Why is the renewal of the COVID EIDL program important for small businesses?

• It provides grants for hiring new employees

• It offers low-interest loans up to $2,000,000

• It reduces taxes for small businesses

• It offers free marketing services

Which sectors are most affected by labor shortages according to the video?

• Technology and finance

• Food and retail

• Manufacturing and construction

• Healthcare and education

What are some reasons for the labor shortages impacting small businesses?

• Increased automation and remote work

• Childcare concerns, competition with big businesses, and health concerns

• Lack of skilled workers and high turnover rates

• Strict immigration policies and aging workforce