This content was created by Mike Andes. This content was uploaded by Mike Andes. This is a YouTube video titled "2022 the HARDEST year for Small Business" created on June 29, 2022, featuring Mike Andes discussing the challenges small businesses will face in 2022 due to inflation, fuel costs, low unemployment, and supply chain issues.
2022 is going to be the hardest year for small businesses and it's going to crush many of them. Four reasons why Number one, inflation. Everything is going up in price. Everything from food to wages. The next thing is specifically the cost of fuel. Everything around you, look around the room you're in right now, everything was created in some way with oil and gas. Whether it was manufactured or in the supply chain or transported with gas, it's going to. Everything's going to cost more. The third thing is really, really low unemployment. There is so many jobs and people need workers right now that it's very hard to find people and then retain them for any period of time. The fourth reason is the fact that the supply chain is still messed up from COVID as well as the war in Ukraine. So getting anything in terms of food, products, materials, supplies is so backed up and you're having to buy things months in advance, which really hurts cash flow. It's going to crush small business in 2022.
