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LABJ Insider: Challenges Facing Small Businesses


Nov 20, 2023

According to the Small Business Economic Trends report released by the National Federation of Independent Business, small businesses are not feeling optimistic, even though inflation and recession fears have lessened. A majority of small business owners do not expect better business conditions in the next six months. John Kabateck, the California state director for NFIB, believes that there is not much being done in Sacramento to boost business morale, with more paid leave mandates, higher unemployment insurance costs, and an expensive universal healthcare scheme being discussed.

A recent survey commissioned by SleepZoo.com found that 81% of respondents plan to visit relatives during the holidays, but only 55% are looking forward to it due to concerns about political differences and uncomfortable sleeping arrangements.

A recent report by personal finance website SmartAsset identified cities where residents have beaten inflation. Rancho Cucamonga in San Bernardino County saw its median income grow 29.2% in a 24-month period, making it the third-highest in the country. Lancaster and Palmdale in northern Los Angeles County also saw substantial income growth, as did Downey and Burbank. However, Los Angeles residents experienced only an 8.2% increase in median income, lower than the rate of inflation.

The Insider is compiled by Editor-in-Chief Charles Crumpley, who can be reached at ccrumpley@labusinessjournal.com.

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