How to handle inflation as an entrepreneur?

[Moseschidera]

As a small business owner, inflation is difficult to manage but I try to watch costs closely and raise prices strategically to stay afloat. I look at all my expenses line by line to see where I can save even a little. Everything adds up. I've negotiated with suppliers and some have worked with me by giving partial price holds or extended payment terms which helps. Raising prices is tough because customers are also feeling the pinch but they have been understanding as I've explained our situation.
It's all about financial discipline, getting creative where possible and relying on customer relationships we've built over the long haul.

 

[Stardom22]

As far as the business industry is concerned, the rise in the inflation levels results to the increased prices of items. Consequently, the entrepreneur should raise the selling prices to match the equivalence.

 

[Augusta]

Yes to fight inflation you need to be financial discipline, and start being creative where possible and relying on customer relationships that's is sustainable

 

[eLdavis]

Yes to fight inflation you need to be financial discipline, and start being creative where possible and relying on customer relationships that's is sustainable

I completely agree with you here, being financially disciplined is the best ways to be able to fight inflation.

 

[Augusta]

I completely agree with you here, being financially disciplined is the best ways to be able to fight inflation.

That's right as inflation comes with money sapping. So you need to discipline your self to avoid expending too much money

 

[Suba]

If inflation occurs above 10% or medium, as an entrepreneur you need to create a strategy to handle inflation, such as making efficient use of all costs including administration costs, marketing costs, etc. and also production costs, increasing product selling prices.