Small business owners often face hurdles trying to borrow money.
Data from the Federal Reserve shows that 85% experienced financial difficulties in 2021. And during that time, more than half of owners who sought loans were looking to meet their operating expenses rather than to expand their businesses, the report found.
In addition, small business owners are also feeling the sting of higher prices.
Inflation in the country is now running at annual 7.9% for the 12-month period ended February,…
Source link
