Has Inflation hurt your business in any way?

[Grant]

Inflation is a big issue here in the US and likely in many other countries around the world. For me though it's been annoying, but I've been able to get by with what I have. But, I know that inflation has hurt a lot of people, and in turn it has hurt their work or businesses. Have you dealt with inflation the best you can?

Who here has had issues come up with their work or business because of inflation?

 

[Skysaint]

I am actually a freelancer and I think that inflation has hurt my business because it's really very difficult to raise the price for the work you do if you're just offering your skills to people but I tried and lost some customers.

 

[Good-Person]

I am actually a freelancer and I think that inflation has hurt my business because it's really very difficult to raise the price for the work you do if you're just offering your skills to people but I tried and lost some customers.

I think that being a freelancer is actually a good way to make money during inflation. You must stop working for people who do not pay you the right amount of money and find clients who pay you the right amount of cash for your work!

 

[Agbalagbaa]

Definitely, the inflation has affected how we conduct business.
Alot of people actually increased their price of commodities because the price of everything is increasing.

 

[Ronny_4son]

Inflation is a big issue here in the US and likely in many other countries around the world. For me though it's been annoying, but I've been able to get by with what I have. But, I know that inflation has hurt a lot of people, and in turn it has hurt their work or businesses. Have you dealt with inflation the best you can?

Who here has had issues come up with their work or business because of inflation?

Inflation can hurt a business in a number of ways. The cost of goods and services can increase, leading to higher costs for the business. This can lead to decreased profits, as the business may not be able to pass on the higher costs to customers. Additionally, inflation can lead to decreased purchasing power, as the cost of materials and other inputs may be higher than before, making it more difficult for the business to be profitable. Finally, inflation can also lead to higher interest rates, making it more expensive for businesses to borrow money

 

[Genie01]

I don't have a business currently, but I do have friends that are into business and I can categorically say that it has really affected how they conduct there business and the profits they make .

 

[Abigael]

Inflation has really affected my personal expenditure. I earn the same amount I am used to but everything is so expensive. Even buying food alone has become a really expensive thing to do. Now I have to be really careful how I spend my money.

 

[Skysaint]

I think that being a freelancer is actually a good way to make money during inflation. You must stop working for people who do not pay you the right amount of money and find clients who pay you the right amount of cash for your work!

You really don't know what the AI is actually doing to most people especially freelancers. It's really not very easy to find high paying clients as you may think especially now that the AI technology is advancing.

 

[Good-Person]

Inflation can hurt a business in a number of ways. The cost of goods and services can increase, leading to higher costs for the business. This can lead to decreased profits, as the business may not be able to pass on the higher costs to customers. Additionally, inflation can lead to decreased purchasing power, as the cost of materials and other inputs may be higher than before, making it more difficult for the business to be profitable. Finally, inflation can also lead to higher interest rates, making it more expensive for businesses to borrow money

Well, when the cost of living increases, people start buying less products. When people buy less products, the businesses suffer a lot in the end. This may lead businesses to manufacture less products.

 

[Nomad]

Yes, inflation is affecting my business. Even though I have reduced the price of services and products, there are no buyers or very few buyers. My businesses are in hibernation.

 

[Good-Person]

Yes, inflation is affecting my business. Even though I have reduced the price of services and products, there are no buyers or very few buyers. My businesses are in hibernation.

So, what kind of business do you run? Inflation has affected many people and big companies as well. In my country, the government created really awful polices that destroyed the economy of the country.

 

[Gandiba]

Inflation has delt with us seriously, I think 70 percent of all this west African countries are suffering from this, This seems to be very cost, the amount of money you can use in the 90s, won't satisfy now.

 

[Abigael]

Inflation has delt with us seriously, I think 70 percent of all this west African countries are suffering from this, This seems to be very cost, the amount of money you can use in the 90s, won't satisfy now.

Yeah, inflation has become so bad for sure. Not just the west African countries as you say. Every part of the world is complaining about it. The prices of items have gone up at a high rate.

 

[GoldenLady]

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Inflation has delt with us seriously, I think 70 percent of all this west African countries are suffering from this, This seems to be very cost, the amount of money you can use in the 90s, won't satisfy now.

The inflation is worldwide, which is why I feel angry when some people make it seem like it's all about their country alone. There is information in power, and crying about it won't help us overcome the challenges it will pose for us.

 

[Shortie]

Unfortunately, inflation is affecting my business. I am a freelancer and whilst it would be beneficial to me to be able to raise my prices in line with inflation, that is not always something I can do as that can lead to loss of custom from those who may not be able to afford it being that inflation affects everyone unfortunately. I have found though that if I do random offers for my services many people will bite and I can make a bit more over that time, it's definitely not been easy at all.

 

[Good-Person]

Yeah, inflation has become so bad for sure. Not just the west African countries as you say. Every part of the world is complaining about it. The prices of items have gone up at a high rate.

Well, inflation in my country has increased so much that now people are really worried about it. They have no option but to compromise and buy stuff that they really need.

 

[Yohanna]

One of the major challenge with inflation is that the cost of items will increase and the profitability on such items will also decrease because you will want to attract customers by lowering your profit to some extent.

 

[Syldan]

Inflation is a kind of a general or global economic situation that affects not only a single business but the entire economy of a particular country, continent or even the world at large.

 

[Skysaint]

One of the major challenge with inflation is that the cost of items will increase and the profitability on such items will also decrease because you will want to attract customers by lowering your profit to some extent.

You're right about that. That is exactly what is going on right now in my country coupled with the fact that the nation is trying to change its currency at this critical time.

 

[Abigael]

Inflation is a kind of a general or global economic situation that affects not only a single business but the entire economy of a particular country, continent or even the world at large.

That is right. This time, it has hit really hard. Every country is trying to recover from the pandemic and the effects it had on business and economics. Other countries are affected harder because there were elections and now a new government is struggling to get used to being in office and repairing a broken economy.