This is a very troubling development, especially since small businesses are the backbone of our economy. Intercessors should be praying.

From The Center Square. The small business network Alignable released its small business inflation poll Monday, which found small businesses are very worried about rising inflation and its effect on the economy.

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According to the survey, 51% of small businesses fear that inflation could “force them to close their businesses within the next six months.” Restaurant owners in particular are concerned with 72% saying they are worried.

Overall, only 21% of small business owners say they are “not at all concerned” about potentially having to shut down their businesses this year because of inflation….

The concern over inflation varies by state, with 58% of small businesses in Maryland, and 57% in Connecticut and Tennessee saying they are worried about shutting down, the three highest states.

Notably, the poll found “49% say their costs have increased by more than 25%, but only 16% are able to pass those expenses onto customers….”

Alignable’s survey results come as regular unleaded gas prices, another economic pain point for Americans, hit record highs again Monday. The average gas price nationwide rose to $4.60 for regular unleaded gas and $5.58 for diesel, according to AAA. Truckers use diesel fuel to transport consumer goods across the country.

Those higher gas prices make everything more expensive for small businesses, whether it is traveling between clients, delivering goods to market, or paying consumer delivery costs. For many employers, time is running out.

Monday’s Alignable poll found “37% have only one month or less of cash reserves.”

How are you praying for the small businesses of our country? Share your thoughts and prayers below.

(Excerpt from The Center Square. Photo Credit: Photo by Tim Mossholder on Unsplash)