Name : Agita Intan Mahira

Class/ NIM : L/190412630007

Small businesses struggle as inflation persists

Sourced : https://www.youtube.com/watch?v=p4ct9cpxv-o

The United States Department of Commerce reported last month that large
companies are very profitable in 2021. But a recent survey by Goldman Sachs found 80% of
small business owners said their businesses have suffered over the past six months due to
record high inflation. The pandemic and the war in Ukraine have also been a driving factor in
rising costs. Small business owners say they struggle to compete with big companies.
After two years of facing challenges for the pandemic and making up for the shortage
of workers now, they have the rising cost of competing also for our small businesses across
the country. And when it comes to inflation they have tried to combat it in various ways.
About60% of these small businesses say when they offer higher wages or try to attract
higher-paying workers, they pass on the increase to consumers. Rising energy costs are one
of its biggest challenges. So one of the things that can be done is to distribute gas cards to
employees so that gas costs do not take up their salaries. Small business owners are realizing
if that option doesn't work, they have another way to deal with this long-term inflation
which is that they change their budgeting, they raise prices for services and they give their
workers a raise to help facing the challenges of rising gas prices and other costs across the
board.
To address this problem, more than 85%, said small business owners want the
federal government to do more to help organize jobs for those small business owners in
order to equalize their position. with these big companies, making healthcare more
affordable, having a lot of healthcare options, and those are the things that will help some of
these small businesses compete. In addition, the government is asked to help stop the
bottlenecks in the supply chain of staples and energy materials by workingtogether to deal
with several other challenges that help drive inflation, for example by lowering or fix some
of the costs of the staples sector and the rising cost of energy materials.