Rent costs for small and medium-sized businesses (SMBs) in the United States continue to rise, with over half of those surveyed by Alignable reporting higher rent costs than six months ago. The ongoing effects of the pandemic and the broader economy have caused many businesses to experience losses in revenue, further widening the gap between income and expenditure. High inflation, increasing interest rates, and greater recessionary fears are all cited as key drivers for the financial struggles of SMBs across the US and globally. Last month, over one-third of US SMB owners said they were unable to meet their rent requirements in full and on time, potentially leading to the end of many businesses. Despite a clear challenge, Arizona appears to be among the healthiest states for SMBs.
Alignable is a Massachusetts-based social network company that connects local business owners. The company allows members to share advice, promote events, and establish partnerships.
The SMBs mentioned in this article refer to small and medium-sized businesses.
