Keeping prices affordable can come at a cost for small business owners. Many are trying to find a balance between keeping prices affordable and keeping the lights on.
In October, small- and mid-sized businesses actually shrank their headcounts, according to payroll processor ADP. That downsizing, said one business owner in Virginia, was due to the “devastating” tariffs.
The payroll processing firm found in its latest National Employment Report that the labor market just keeps going downhill, with most of the job losses hitting small and medium-sized business the hardest.