Small businesses face 11% year-over-year rent increase, with 41% unable to pay July rent on time.
Small businesses struggle with rising rents despite overall inflation cooling, with rent payments per small business client increasing 11% year-over-year in July, according to Bank of America internal data. Inflation remains a top concern for small businesses, and a survey found that 41% of small business owners could not pay their July rent on time and in full. Some owners are pushing back against landlords, negotiating late payments, or seeking new locations with lower rents.
August 27, 2024
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