Generally speaking, small businesses get hurt from high interest rates, because they always need to borrow money. This means that they would need to pay back more money every month. Even a few percentage points make a big difference. In addition, some people may not even attempt to start small businesses, because of the interest rates. There is another side to the equation though. If the interest rates are too low, then too many business may start, which may not be a good thing, since they may not be viable.
When it comes to a "high dollar," I assume that you mean inflation. Steady inflation is good, but if the inflation goes up suddenly, all people get hurt.
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