The impact of inflation is highlighted in a new global report by Meta, the parent company of Facebook. According to the report, inflation and rising costs of inputs are emerging challenges for most Small and Medium-sized Businesses (SMBs). The analysis of SMBs in 30 nations found that inflation was a major concern for SMBs particularly those involved in export.
Impact of Inflation on Small Business – Meta Report
Almost a quarter (23%) of US-based small businesses reported an increase in their cost of inputs and raw materials in the past six months. This is in stark contrast to the global average of 45% of SMBs that were forced to shutter during the same period.