Small business on the edge

[Manonthestreet]

Here are a few more highlights:

• 52% say their rent is higher than it was six months ago (up 1% from Oct.)
• 73% say consumer spending is down this month compared to Oct., a jump of 14% from 59% last month.
• 44% of small retailers couldn’t pay their full rent (up 1%).
• 52% of small retailers expect they’ll earn less this quarter than they did in Q4 2021, with 1% saying they’ve already shut down, & 10% predicting they could close soon if their financial situation doesn’t improve. Only 8% say Q4’s been great.
• 57% of beauty salons couldn’t cover rent in Nov., a jump of 18% over Oct.
• 42% of independent restaurateurs couldn’t pay Nov. rent, which is still a high rate, but marks an improvement over 49% in Oct.
• The best news in this report comes from the travel/lodging sector, which is experiencing a major rebound: only 13% of SMBs in this category couldn’t pay Nov. rent, down from 34% in Oct.
• The top states for SMB rent delinquency in Nov. include MI (51%, up 19%), NY (49%, up 4%), MA (45%, down 6%), TX (43%, up 5%), CA (41%, down 3%), IL (40%, up 8%), OH (40%, up 18%), and NJ (38%, down 11%).
• In Canada, 45% of small business owners couldn’t pay their Nov. rent in full, up from 42% in Oct., and 41% in Sept. ON-based businesses are struggling the most with a rent delinquency rate of 45%, up 5% from Oct. BC & AB rent delinquency rates decreased a bit. New Record: 41% Can't Pay November Rent (Up 4%) | ZeroHedge

Since covid small business has been on the receiving end.

 

[ABikerSailor]

Ever think that the reason they couldn't meet their rent is because the greedy landlords keep raising it? The first point of your post states that people are saying that their rent has increased.

And...............it's not just business owners who are feeling the crunch. People who rent apartments to live are seeing their rents increase as well.

But........................that's capitalism for ya. As long as someone is willing to pay the prices, keep raising 'em as long as you can.

Same thing happened with gas prices. Gas and oil companies have been seeing record profits. People who actually use the gas that they sell have seen record price increases over the past 6 months. Thank goodness that prices have finally started to get back down from outrageously expensive (4.50/gal), to where it's only moderately expensive (2.90/gal). Hopefully gas prices will continue to fall and get back to some semblance of being "normal", or at least, where people can afford it without having to sacrifice other things.

 

[Manonthestreet]

Ever think that the reason they couldn't meet their rent is because the greedy landlords keep raising it? The first point of your post states that people are saying that their rent has increased.

And...............it's not just business owners who are feeling the crunch. People who rent apartments to live are seeing their rents increase as well.

But........................that's capitalism for ya. As long as someone is willing to pay the prices, keep raising 'em as long as you can.

Same thing happened with gas prices. Gas and oil companies have been seeing record profits. People who actually use the gas that they sell have seen record price increases over the past 6 months. Thank goodness that prices have finally started to get back down from outrageously expensive (4.50/gal), to where it's only moderately expensive (2.90/gal). Hopefully gas prices will continue to fall and get back to some semblance of being "normal", or at least, where people can afford it without having to sacrifice other things.

Yeah that's it.....how much money did ya cost em with useless lockdowns.? How many small landlords lost property cause nobody had to pay rent during covid....and wonder if that didn't cause rent to go up to recoup some of that...mm

 

[Harpy Eagle]

How many small landlords lost property cause nobody had to pay rent during covid....and wonder if that didn't cause rent to go up to recoup some of that...mm

Whose CDC was it that issued the eviction moratorium?

 

[Manonthestreet]

Whose CDC was it that issued the eviction moratorium?

And who could have ended it earlier?

 

[Harpy Eagle]

And who could have ended it earlier?

So we agree both parties are equally guilty?

 

[Manonthestreet]

Wasn't point of the post but fine.

 

[Dogmaphobe]

Small businesses are on the edge.

It is all going according to plan.

 

[Whodatsaywhodat.]

So we agree both parties are equally guilty?

No , democrats are scum .

 

[Harpy Eagle]

No , democrats are scum .

True they are, but then again so are Repubs and those who support them.

 

[Whodatsaywhodat.]

True they are, but then again so are Repubs and those who support them.

Not nearly as scummy as a democrat.