Small Businesses Struggle with High Interest Rates and Lack of Financing

Small businesses are facing financial challenges due to high interest rates and depleted reserves from pandemic-era assistance programs. The lack of access to credit and financing is impacting operations, leading to delayed purchases and hiring. Small business optimism is eroding, with concerns about a tightening labor market and inflation. US companies are considering refinancing 2024 debt but face potential profit hits and increased interest costs. Higher interest rates are impacting small businesses, leading to delayed expansion plans and increased financing costs.