WASHINGTON, May 17, 2022 – Most small business owners (62.7%) report lower profits than expected over the past six months due to declining sales and higher expenses as inflationary pressures rise, according to new survey data from SCORE, mentors to America's small businesses and a resource partner of the U.S. Small Business Administration.
SCORE’s Spring 2022 Megaphone of Main Street: Inflation & the Economy report surveyed more than 1,000 small businesses on the current state of inflation; how turbulent economic factors have affected profitability, and what they have done to protect their