As small businesses battle rising costs of fuel, goods, and labor, maintaining profitability can be an ongoing challenging. Inflation is at its highest in 40 years, with the Consumer Price Index (CPI) at 8.5% in July. Moreover, food prices have surged 13.1% over last year, leading consumers to cut back their spending on many non-essentials. For small business owners, the task of setting competitive prices while covering costs and maintaining cash flow can be tricky.
