This episode provides crucial financial advice for small business owners navigating the unpredictable relationship between the job market and economic shifts. It distinguishes the current economic cooling from the unique circumstances of COVID-19, emphasizing that businesses may soon find a loosening job market with more available workers, though not necessarily lower wages. The discussion highlights specific challenges for businesses relying on migrant workers due to changing labor dynamics, potentially leading to increased labor costs and price adjustments. It also examines the resilience of industries like restaurants amidst rising food prices and explores the stable performance of service and manufacturing sectors compared to the challenges faced by brick-and-mortar retail. Tune in for valuable insights into how these economic trends impact your small business and how effective accounting services can help you adapt.
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🎙️ Kaizen Time is part of the Blood, Sweat & Business podcast series by Kaizen CPAs + Advisors. We help small business owners make smarter financial decisions—without the fluff.
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