Small Business Coping With High Gas Prices

72 percent of small business owners report negative impact by high gas prices

 

According to a March 2012 survey conducted by the Small Business & Entrepreneurship Council (SBE Council), 72 percent of small business owners report they’re being negatively impacted by high gasoline prices. The survey, which polled 304 small business owners across the U.S., sought to understand the impact of high gasoline prices.

In response to the survey question, “How have higher gas prices affected your role as a small business owner,” 41 percent said higher prices for gasoline have impacted their ability to hire, 22 percent have cut back on employee hours and 40 percent have already raised their prices. Further, high gas prices also impact transportation costs for distributors, who will likely pass on these costs to their customers. Thus, rising gasoline prices have real-world impacts on U.S. small business that may be felt by their Latin American trading customers and partners.

Figure 1: Thanksgiving gasoline prices slightly above 2011’s level

 

 

 

Gas Prices above 2011 Levels

 

Mark Robinson
Mark Robinson
Mark Robinson is the Executive Director, Americans for Fossil Fuels, LLC. America’s First and Only For-Profit Fossil Fuels Think Tank and Advocacy Firm. He most recently served as the Marketing and Communications Director for the Global Energy & Resources practice at Deloitte Touche Tohmatsu Limited. During his years at Deloitte, Mark led many successful and high-profile global marketing campaigns using social media, conference sponsorships and executive-level appearances, which not only increased revenue but increased brand awareness. Prior to working at Deloitte, Mark served in an executive level position within Public Relations at Exxon Mobil Corporation. Mark received his PhD in International Business Management , with a focus in International Marketing, from the International School of Management. Mark provides Latin Business Today insights on energy and its impact on business.

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