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How To Survive Inflation as a Small Business
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[QUOTE="Holicent, post: 284013, member: 76163"] The answer to this question is simple. If you don't believe in inflation, you're wrong. Not only that, but you're also going to lose money. The reason why this is so important is because it has a huge impact on how you'll manage your business in the future. You'll need to be able to adapt and change as conditions change around you. Inflation isn't just about money; it's about time as well. When prices go up, it doesn't just affect your finances; it affects all aspects of life, including your business. You can't sit back and wait for things to happen organically; you need to take action now if you want things to improve over time. Inflation affects Purchasing power - When the price of something goes up, people have less of it and they have less money overall. This means that buying power decreases with each passing year which means that businesses will have less customers and less profit consequently. Government can also help small businesses survive inflation. [/QUOTE]
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