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The State of Small Business Debt in 2024: Insights from Global Data

Burt and Associates

-based businesses face unique challenges : Higher interest rates : The Federal Reserve’s interest rate hikes have made borrowing more expensive, increasing monthly debt obligations. Sector-Specific Debt Growth : Retail, hospitality, and construction businesses are seeing the highest increases in outstanding debt.

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The Role of Tariffs in Small Business Debt

Burt and Associates

It’s essential for small businesses to carefully assess their debt levels and explore alternative financing options to mitigate potential risks. Recent tariffs on imports from Canada, Mexico, and China have led to increased costs for raw materials and finished products.

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