Small Business Owners Forced To Confront New Prices With Inflation

The video discusses the impact of inflation on both consumers and small businesses. Nick Johnson, a small business owner, shares his struggles with rising costs. A poll indicates inflation is a major concern for small businesses, with many raising prices. Some businesses, like Urban Tandoor, add fees to cope, while others, like a Denver gym, offer flexible payment options to retain customers. Shannon Crutchfield highlights the broader economic challenges faced by Americans due to stagnant wages.

What is the main challenge faced by Nick Johnson's business?

• Rising costs and inflation

• High employee turnover

• Lack of customers

• Competition from online stores

According to the poll, what percentage of small businesses have raised their prices?

• 33%

• 50%

• 75%

• 67%

How is Urban Tandoor in Colorado Springs addressing inflation?

• Switching to cheaper ingredients

• Offering discounts to regular customers

• Adding a 5% inflation fee

• Reducing portion sizes

What is a concern for small businesses when raising prices too quickly?

• Losing customers

• Increasing competition

• Higher taxes

• Supply chain issues

What broader impact of inflation does Shannon Crutchfield highlight?

• Strain on consumers without wage increases

• Higher wages matching inflation

• Improved economic growth

• Increased job opportunities