ByMartina Castellanos,
Contributor.
Almost two-thirds of small and mid-size business owners say they plan to increase prices next year as nearly all wrangle with inflation hitting their operations, a Bank of America report finds, yet many owners still expect higher revenue and plan to expand in the year ahead.
Bank of America reported Tuesday that 88% of small and mid-size business owners say inflation is hitting their operations, prompting 64% to plan price hikes and 39% to curb spending next year.
The survey of more than a thousand small and medium-sized businesses found that 75% are facing supply chain strain.
