How to Mitigate Inflation’s Effect on Your Small Business

As a business owner, inflation can feel like an absolute nightmare. While running a small business can be challenging enough, inflation adds another layer of difficulty that can sometimes feel impossible to overcome.

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Luckily, there are steps that you can take as a business owner to mitigate the effect of inflation on your small business. By taking the right precautions, you can make it through times of high inflation and grow your small business into the great success that it deserves to be.

Downsize If Possible

Though it’s definitely not ideal to downsize, desperate times can call for desperate measures.…

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Business, Inflation, and the Great Resignation

There is an axiom in business related to pricing. You can only charge what the market will bear. That means if you set a price point for a product too high, not enough people will buy it for you to profit.

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There’s another aspect of that too, though. You can only get people to work for your company if you pay them enough. A time always comes when someone will walk off a job because they feel like you’re not giving them adequate compensation for the work they do.

That brings us to what’s happening today, that some in the business world call “The Great Resignation.”…

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