Inflation is eating away at the heart of America’s small businesses

 

By Salena Zito, New York Post

January 12, 2022

 

Of the four restaurants Rick McQuaide owns across several counties in Western Pennsylvania, one is barely making a profit, two are losing money and the fourth has been “temporarily” closed for far longer than he ever anticipated.

 

The 58-year-old small businessman from nearby Cambria County has one word for why he finds himself in this position — and it isn’t the pandemic.

 

“It is inflation,” he said flatly.

 

McQuaide — whose family has also been in the trucking and logistics industry for 70 years — said what frustrates him is the reaction coming from the White House and much of the national media on the severity of the problem.

 

“They seemingly shrug it off — maybe that happens because they’ve never owned a small business or maybe because they have jobs where they can absorb the costs with less pain,” he said.

 

“They are wildly out of touch with the struggles of the average American and small business person,” McQuaide adds. “That isn’t political, that is ­reality.”

 

He pointed to Biden downplaying the Labor Department report released Wednesday that showed inflation rose at the fastest pace in four decades in December (7 percentage points) as an example of how disconnected he is from the people he serves. Biden said “we are making progress” and claimed there was a reduction in inflation in the past month...

 

Explosive costs ...

 

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https://nypost.com/2022/01/12/eating-away-at-the-heart-of-small-businesses/