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According to NBC Now, over 40% of all small businesses can't pay their November rent. Yet the Biden administration tells ue how great this economy is. How can that be?
The small business network group Alignable released the survey, which found that the hardship varies by industry. A notable 57% of beauty salons said they couldn’t make rent as well as 45% of gyms, 44% of retail and 44% of restaurants.“
Making matters worse, this occurred during a quarter when more money should be coming in and rent delinquency rates should be decreasing,” Alignable said. “But so far this quarter, the opposite has been true.”
This is a 11% increase since September. Business owners cite a range of reasons for the difficulty making rent, including higher rent costs and lower revenue. But 60% cite inflation.