Add rent to the rising costs bedeviling small businesses
Associated PressNEW YORK — The rent has come due for America’s small businesses and at a very inopportune time. “Many small businesses are still frankly recovering from whatever the last phase of COVID was,” said Chuck Casto, head of corporate communications at Alignable. It’s made it difficult for small businesses to really make a go of it.” Ris Lacoste owns a namesake restaurant, Ris, in Washington, D.C., and is staying afloat using aid she got from the Restaurant Relief Fund to pay her rent. “It’s not sustainable.” Data from the commercial real estate financing and advisory firm Marcus & Millichap shows rent rose 4.6% in the first quarter of 2022 compared with the year-ago quarter as the vacancy rate dropped to 6.5%, the lowest since before 2015. “We’re not making much money, but we’re keeping people in business.” For some small businesses, a higher rent just isn’t an option.
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High rents are forcing small businesses into tough choices like raising prices or changing location
Associated PressRent inflation remains a pressure point for small businesses
Associated Press
Rent inflation remains a pressure point for small businesses
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