IPFS News Link • Business/ Commerce
Record 7 Percent Surge Small Business Rent Delinquency In October
• https://mishtalk.com, By MishRecord Surge in Small Business Delinquencies
Alignable reports Record Surge In Rent Delinquency: Up 7% In October, Totaling 37% For U.S. SMBs
Due to ongoing economic challenges, small business owners' ability to pay their full rent on time in October took a major hit based on a new Alignable poll. In fact, the U.S. rent delinquency rate among small businesses jumped 7% in just one month, marking the largest, most rapid increase in 2022.
In September, rent delinquency was at a six-month low, as optimism for Q4's earning potential was high and some small business owners reported increased sales.
But now, a month later, 37% of small business owners in the U.S. were unable to pay their rent in full and on time in October, compared to just 30% in September.
Poll Results
Higher rents for 51% of SMBs
Cumulative, negative impact of more than a year of high inflation, which has absorbed most sales gains
Recessionary fears
Steeper-than-usual gas prices (rising yet again)
Ongoing increases in supply chain costs
Rising labor expenses and shortages
Slowdown in consumer spending.