Inflation hitting hard for small businesses
BIRMINGHAM, Ala. (WBRC) - A new survey shows 29% of small businesses report inflation is their biggest challenge and another 10% say labor costs are their top issue.
The prices of materials and products have risen for many small businesses but for two businesses in Calera, they’re getting by with the help of their loyal customers and their relationship with other local businesses.
For Adventures Coffee Company owner Taylor Neal said he has had difficult times where his product was unavailable, or the costs increased.
Thanks to his customers, he is able to absorb some of those costs without increasing his prices.
“A lot of the times the best thing that a small business can do is rely on that word of mouth,” Neal said. “It is huge for us to have you go and tell you friends ‘hey I found this great little place come try it out its awesome, come with me or just go sometime when you get an opportunity.’ It is the biggest help there could possibly be.”
While word of mouth is helping Neal, working with other local businesses to cut down on shipping costs has been helping Andrea Huff with her business, Plant.
“If I’m paying out the wazoo for shipping then I’m having to pass that on to my customers but when I’m dealing with local businesses or Alabama local businesses that’s not the case and in turn, we are getting a high-quality product for less costs than if we were to have to pay shipping,” Huff said. “Not only that but the oceanic freight charge that a lot of these companies are taking on to retail companies like me.”
Both said they will continue to listen to their customers and work to find the best way to keep them coming in without jacking up their prices.
On the bright side, Neal has increased his employee size and Huff is expanding her store to attract more customers.
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