In the following, GSG podcast interview, Laura Shuman, Principal, Small Business, discusses what small businesses in Maryland can do to best manage inflation with so much uncertainty.
According to a recent survey from Alignable, 51 percent of small businesses fear that inflation could “force them to close their businesses within the next six months.” In particular, restaurant owners are very concerned with 72 percent saying they are worried.
To best manage inflation for Maryland small business, it will come down to remembering business fundamentals, enhancing business processes, and communicating/sharing the cost challenges with customers.
Here are key highlights from this podcast interview:
- The current mindset of small business owners when it comes to inflation. (1:10)
- Ways that small businesses can best manage inflation. (2:12)
- How small businesses can develop more efficient processes. (3:38)
- Other overall business survival tips. (5:07)
- How we are all in this together when it comes to inflation. (7:10)
Markets often change and with uncertainty often comes fear. We hope to provide you with tools to help manage your systems and mitigate the pitfalls that often come with the stresses of owning a small business.
If you own a small business and need assistance enhancing business processes to best manage inflation, please contact us here.Categories: Podcast, Small Business