Small business owners say inflation is crushing their business: ‘Out of control’
A bodega owner, a salon owner and a distillery owner discussed the issues they're facing
Brookyln bodega owner Carmelia Bello, Paso Robles distillery owner Aaron Bergh, and Salt Lake City salon owner Teresa Bowman joined 'Fox & Friends First' to discuss how rising costs have impacted their ability to keep their businesses afloat.
Inflation is at a 40-year-high — and small business owners are feeling the pain.
Thirty-seven percent of small business owners were unable to make their rent in October, according to an Alignable study.
With small businesses making up over 99% of all businesses in America, inflation is a concern for many across the country.
A bodega owner, a salon owner and a distillery owner from across the country all joined "Fox & Friends First" on Wednesday to discuss the issues they're facing amid inflation rising.
Carmelia Bello, a bodega owner in Brooklyn, New York, said inflation is crushing her business.
Three small business owners joined "Fox and Friends First" on Wednesday, Nov. 2, to discuss how inflation is affecting their business. (Fox News / Fox News)
"Inflation is killing us. You’re making money to give money back," she said.
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Aside from inflation, Bello is also dealing with the crime and theft issue in New York City.
New York City has seen a 34% increase in total crime since 2020, with robbery up 38%, burglary up 32% and assault up 18%, according to the New York City Police Department.
Carmelia Bello is a bodega owner in Brooklyn, New York, who said inflation and crime are hurting her business. (iStock / iStock)
Bello hopes that with the midterm elections on the horizon the issue will subside with time.
Teresa Bowman, a salon owner in Salt Lake City, Utah, said inflation is forcing her to pay employees more to stay working at her salon.
Teresa Bowman owns a salon in Salt Lake City, Utah, and said inflation is causing concern about employees leaving for a work-from-home job. (iStock / iStock)
"We need to pay more to all the employees because they can go find other jobs somewhere else," she said.
"They can work on a laptop at home for $20 an hour."
Bowman reiterated that it’s a tough time to be a small business owner.
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Aaron Bergh is a distillery owner from Paso Robles, California, who said the cost of goods is what’s hurting his business the most.
Aaron Bergh owns a distillery in Paso Robles, California; he said the goods he needs for his business have skyrocketed in price. (iStock / iStock)
Bergh said he now has to pay $400 to have supplies shipped 200 miles to him from Los Angeles.
"The cost of sugar — which is huge for my product — has gone up 20-30% in the past year," he said.
Bergh said he tries to take the issues day by day.
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Fox News Digital's Madeline Coggins contributed to this report.