Survey: Energy Costs Devastating Small Businesses Across the Nation

April 25, 2022

Survey: Energy Costs Devastating Small Businesses Across the Nation

FOR IMMEDIATE RELEASE Contact: Tony Gagliardi, Wyoming State Director, Tony.Gagliardi@nfib.org or Tony Malandra, Senior Media Manager, Anthony.Malandra@nfib.org CHEYENNE, Wyo., April 25, 2022—Today’s release of a special survey on inflation conducted by the nation’s leading small-business association drew a Wyoming response on an important component not surveyed. “The unwritten result that stood out for me in the inflation survey is the importance of states not doing anything to harm themselves,” said Tony Gagliardi, Wyoming state director for the National Federation of Independent Business (NFIB), which conducted the survey of its small-business-owning membership. “As a result of the importance of energy production to Wyoming, our state lawmakers naturally know what needs to be done or not done, unlike one of its neighbors to the south whose legislative body is under the sway of a progressive agenda that does more harm than good.” Selected Highlights from Today’s Nation Survey

More than half (62%) of small-business owners reported inflation having a substantial impact on their business; 31% said it was having a moderate impact.
Nearly all (99%) of small-business owners reported the recent increase in gas and fuel prices is having some degree of negative impact on their business.
More than three-quarters (77%) of small employers reported rising fuel costs (gasoline, diesel, fuel oil, etc.) was a substantial contributor to higher costs.
Eighty-six percent of small employers are increasing the price of the goods or services.
Thirty-one percent of small employers are taking on debt to finance higher costs.

From Holly Wade, Executive Director of NFIB’s Research Center “Inflation is a new challenge for most small business owners. Inflation has reached levels not seen for the last 40 years and is dominating business decisions for small employers across the country. Small business owners have been adjusting business practices in order to compensate for inflation pressures resulting from supply chain disruptions, staffing shortages, and rising gas prices.” Keep up with the latest Wyoming small-business news at www.nfib.com/WY. ### For 78 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since its founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com. NFIB Wyoming P.O. Box 1890 Cheyenne, WY 82009 866-639-1846 NFIB.com/WY