Survey: 60% of small businesses raising prices due to high inflation. But what about New Jersey?
A new survey shows about 60% of small businesses are raising prices -- the highest percentage in nearly 50 years.
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Feb 15, 2022, 10:19 AM
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Updated 892 days ago
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3h agoA new survey shows about 60% of small businesses are raising
prices -- the highest percentage in nearly 50 years.
The news comes as inflation resides at 7.5%, the largest number in
40 years. Small business owners continue to struggle to stay afloat without
passing large increases on to customers.
“You have to make certain margins just to stay in business to keep
the lights on, pay your staff, but at the same time, the customers don’t want
to overpay for things,” says James Jones, with Fresco by Jimmy.
The owner
at Fresco by Jimmy in Metuchen is now making his own filling for
cannoli as a way to save and hopefully not have to pass increased costs on to
customers.
“We started making our own cannoli filling, we sourced of the best
ingredients,” says Jones. “I could get, and I actually think we have a better
product now that we had a four with better margins.”
But there
is optimism out there. With COVID-19 retreating and spring near, parties
are scheduled and restaurants are hoping to be bustling again.
