Small Businesses Couldn't Pay Rent in October

The Ohio River stands in front of businesses in Pomeroy, Ohio.  Photographer: Ty Wright/Bloomberg





Rent delinquency rates among US small businesses increased significantly this month, a new report shows.

About 37% of small businesses, which between them employ almost half of all Americans working in the private sector, were unable to pay their rent in full in October. 

That’s according to a survey from Boston-based Alignable, a network of 7 million small business members. It’s up seven percentage points from last month and is now at the highest pace this year, the survey showed.

Chuck Casto, head of research, at Alignable, said that small business owners are resilient but incomes are “basically being eaten away by inflationary pressures.”  READ MORE...