Business owners fear they won’t survive another Biden term: ‘We’re all struggling’
49% of business owners say they will 'definitely' or 'probably' not survive another four years of Bidenomics
Small business owners fear they won't survive a second Biden term
Katlyn Swaffer and Maher Youssef explain how their small businesses have been impacted by inflation and call on President Biden to address the issue.
Small business owners nationwide are sounding the alarm over another four years of Bidenomics as inflation chips away at their bottom lines.
"Biden should do something about it, and he should never continue because he only [cares] about himself and his family," Pluto Organic Cafe owner Maher Youssef said on "Fox & Friends" Thursday.
"We're all struggl[ing]. Everybody is struggl[ing]. I don't know how we are going to continue like that."
ABC HOST SHOCKED AT VISUAL DEMONSTRATION OF GROCERY PRICE HIKES OVER LAST FOUR YEARS: ‘WOW’
According to RedBalloon and PublicSquare's May Freedom Economy Index, 49% of surveyed business owners say they will "definitely" or "probably" not survive if Biden is re-elected in November.
Katlyn Swaffer and Maher Youssef explain how inflation under President Biden has hurt their small businesses. (FOX Business/Fox News)
One factor in the rising pessimism from business owners is skyrocketing prices for consumers and small businesses alike.
Since President Biden took office in 2021, prices are up nearly 20%. Just last month, the consumer price index showed the cost of everyday goods was still on the rise, up 3.4% from March.
What's more, grocery prices have risen 21% in the last three years, according to the U.S. Bureau of Labor Statistics.
"So in 2020, when we first opened, we would pay around $15 a case for eggs, which is 15 dozen. Now it's upwards of $50, and sometimes it's $100 for a case of eggs," Just Baked Bakery and Deli co-owner Katlyn Swaffer also told "Fox & Friends" co-host Steve Doocy.
NEW SURVEY SHEDS LIGHT ON HOW SMALL BUSINESS OWNERS ARE STAYING RESILIENT AMID UNCERTAINTY
"When you go buy little things, like salsa or bread or toast or anything, everything becomes very expensive. We can't put the prices too high because people can't afford to buy from you," Youssef added, also pointing to high gas prices.
Small businesses have been struggling since the COVID mandates: Carol Roth
'You Will Own Nothing' author Carol Roth discusses the state of small businesses in the U.S. on 'Making Money.'
Customers are also dwindling as business owners are faced with passing on costs.
"We have a lot of our regular customers who [are] no longer regular customers. They maybe come once a month instead of once a week, or they're not buying their cakes from us anymore because we have to charge more than the grocery store," Swaffer shared.
As Biden campaigns for re-election, inflation and the economy remain a top-of-mind issue for Americans, with business owners and households fearing the consequences of four more years of Bidenomics.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Fox News' Nikolas Lanum and FOX Business' Megan Henney contributed to this report.