For any entrepreneur, the threat of inflation looms large. The cost of doing business tends to go up and down every year. You may ask “how to survive inflation in 2022?” That's why small business owners must stay on top of small business inflation and its impact to create sustainable success in their businesses.
Fortunately, there are plenty of measures that you can take to implement business strategies for high inflation.
What Is Inflation?
Essentially, inflation is a sustained increase in the average prices of goods and services in an economy. Prices rise due to increased demand or scarcity of goods and services.
For example, if there are ten apples in a basket and only one person wants them, each apple is worth $1. But if ten people wish to buy those apples a…