Record Numbers of Small Business Went Delinquent on Their Rents in October
Small businesses are currently having trouble making rent due to rent hikes and decreased customer activity.
According to a new Alignable poll, the United State’s rent delinquency rate among small businesses surged 7% in only one month. According to was the largest increase in the rent delinquency rate in 2022.
Contrast to September, when rent delinquency was at a six-month low and there was high optimism for Q4’s earning potential and several small business owners reported a rise in sales.
In October, 37% of small business owners in the US weren’t able to fully pay their rent in a timely fashion. Contrast to September, when only 30% of small business owners weren’t able to fully pay their rent. According to Mike Shedlock, 26% of small businesses weren’t able to pay their rents in December 2021.
Clearly, the government’s response to the Wuhan virus pandemic has done a number on small businesses across the United States. These types of enterprises cannot afford to shoulder the costs of heavy regulations and prolonged shutdowns of economic activity.
On the other hand, big business can handle these measures and survive whatever the government elements throw at them. In many respects, the Wuhan virus tyranny that Western elites subjected their citizens to enabled the largest corporate consolidation in recent history.
All told, if America is to remain socio-economically healthy, it must categorically reject the administrative state and the expansion of government into people’s economic affairs.