Business owners share struggle to ‘keep up’ under Biden-Harris economy: ‘Forced to close’

Published On Sep 26, 2024, 6:00 AM

Small business owners are expressing significant struggles due to the current economic environment under the Biden-Harris administration, particularly citing high inflation rates as a major factor. Business owners report stagnating growth, increased operational costs, and challenges in maintaining profitability. A poll indicates that inflation-related costs, especially for groceries and housing, are major concerns for voters, potentially influencing the upcoming election. Some owners have resorted to shutting down their businesses or significantly adjusting their operations to cope with rising prices. The overall sentiment among business owners suggests a preference for the economic policies seen during the previous Trump administration, with many feeling that current policies are harmful to their business sustainability.

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Stock Forecasts

XLYView XLY chart on TradingView

Negative

The current economic conditions, particularly high inflation impacting small businesses, could lead to a continued downturn in consumer spending and increased business closures. This trend affects industries heavily reliant on discretionary spending. Investment in sectors vulnerable to inflation, like consumer discretionary, is likely to see negative performance as businesses struggle to maintain profitability.

RTHView RTH chart on TradingView

Negative

Given the expressed concerns of small business owners, sectors tied to inflation-sensitive goods and services may face challenges in profitability. This is likely to create volatility in stocks related to retail and consumer discretionary indices. Hence investors might consider shorts on stocks within this sector.

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