Inflation, labor shortages affect small businesses – Nashville-Davidson, Tennessee

Nashville-Davidson, Tennessee 2021-11-01 17:55:52 –

Nashville, Tennessee (WTVF) —Inflation and labor shortages have permeated SMEs, giving them another challenge to fight during a pandemic.

Supply prices are skyrocketing due to the ongoing disruption of transportation and manufacturing.

The Biden administration has taken steps to mitigate supply chain problems, such as operating a port in Southern California 24 hours a day, but some small businesses say it’s too late.

Due to this problem, the owners of small and medium-sized enterprises have become as follows. Hair stylist Perla Saras Reluctantly raising the price of their service.

“I’m still struggling to get the product in because of what’s happening in California,” Saras said. “Prices for shampoos and products have gone up.”

Saras, a South Nashville hair stylist in Cotton Lane, says she tried to keep prices the same as much as possible before inflation.

“I don’t want to lose customers,” Saras said. “I know my kids want to look good, but moms and dads have lost their jobs and don’t always have money.”

The ability to pay rent also threatens thousands of small businesses. NS Recent survey by the majority of SMEs 78% struggle with rent, as reported among US small businesses renting or owning their own business space.

But Saras is looking at the bright side. Saras, the only employee and her own boss, does not have to deal with the labor shortage problem that many employers see as well, and there is a win in her eyes.

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