IPA SBRB Study: American Small Business Now Passing on Increased Fuel Costs to Customers

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Although fuel costs have moderated in recent weeks, International Profit Associates Small Business Research Board (IPA SBRB) studies conducted from April through October show heightened concern about these costs and a majority of those impacted are now passing them on to customers.

Although fuel costs have moderated in recent weeks, International Profit Associates Small Business Research Board (IPA SBRB) studies conducted from April through October show heightened concern about these costs and a majority of those impacted are now passing them on to customers.

In the most recent IPA SBRB survey, 85% of those surveyed said that rising fuel costs were negatively impacting their businesses. This compares to 72% in July and 64% in April.

Of those who were negatively affected, 62% now say they are passing on those increased costs to customers. In April and July, the figures were 48% and 49%, respectively.

“Whether it is fuel or other variable costs that fluctuate, businesses must have a strategic plan in place to deal with unforeseen events,” said Gregg Steinberg, President of International Profit Associates, the largest privately-held provider of management consulting and professional services to small and medium-size businesses in North America. “While no one can predict a natural disaster or other event that increases the cost of doing business, every business owner needs to have a plan in place to make the necessary adjustments in their business operation to minimize the negative impact when the unexpected happens.”

The International Profit Associates Small Business Research Board ascertains and reports the opinions of small business owners and managers on a wide variety of topics related to their own businesses as well as national and international issues that may impact their operations.

Participants in the poll provide feedback on significant issues and allow for real-time insight into the state of small businesses nationwide. The universe of participants is developed from among small businesses across the United States. A total of 325 small business owners and senior managers participated in this IPA SBRB poll. The IPA SBRB study is a voluntary survey conducted via phone and email. The poll was structured and supervised through an independent resource.

The latest information about the IPA Small Business Research Board can be found at http://www.ipasbrb.com.

International Profit Associates, Inc. (IPA) is the largest privately-held provider of management consulting services to small and medium-size businesses in North America.    IPA and its more than 1,800 professionals offer a wide range of proven and innovative methodologies to help businesses grow and prosper regardless of the economic cycle. IPA either provides directly or through its affiliated companies a comprehensive array of business advisory services, tax and estate planning services or merger, acquisition and other financial advisory services in the United States and Canada. More information about IPA can be found at http://www.ipa-iba.com.

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