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As we gear up for an election, economic uncertainty continues. Amidst stubbornly high inflation, the Federal Reserve decided not to change interest rates in its May meeting, leaving them at a more than two-decade high. Whether rates will be cut by the end of 2024 is uncertain.
Recent data shows that small business owners are feeling the effects of this inflation. Compared to just three months ago, 71% of the 1,259 small business owners surveyed say inflationary pressures have increased on their businesses, and 49% say they’ve had to raise the prices of their goods or services over that period.
For small
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