Reported 8 months ago
During an interview with Yahoo Finance, Bank of America’s President and Co-Head of Business Banking, Raul Anaya, revealed that small business optimism has increased in May but remains below pre-pandemic levels. Anaya highlighted the rising costs of rent and wage inflation as significant challenges for small businesses in the US, with rent payments comprising 9% of total payments, up from 6% pre-pandemic. He also noted that wage inflation has eased slightly to around 2.5% year-over-year, providing actionable tips for small businesses to anticipate and navigate through the current macroeconomic environment.
Source: YAHOO