RALEIGH, N.C. (July 24, 2025) – With Inflation on the rise across the United States, North and South Carolina are no exception. The Better Business Bureau of Eastern Carolinas (BBB) has tips to help small businesses minimize damage done by rising costs.
“The annual inflation rate is on the rise, impacting businesses of every size. Small businesses could start to feel the effects,” Mallory Wojciechowski, BBB president and CEO said. “Finding areas where you can save on costs while maintaining high standards for consumers is going to be essential.”
BBB Offers These Tips for Small Businesses Owners Coping with Inflation:
Reduce your expenses. Be intentional about where your business is spending its money. This means reviewing your current spending and determining if it aligns with your strategy. If employees waste office supplies or delivery drivers take the scenic route, address the issue. If your online advertising budget isn’t bringing revenue, make adjustments. Cancel unused products and services.
Diversify your customer base. Different groups will be affected by the national rise in prices in various ways. Having a diverse customer base makes it more likely that there will be at least one group interested and investing at all times.
Raise prices wisely. If you must raise your prices to compensate for inflation, do so wisely. Raise your prices just enough to offset the impact of inflation and ensure you can keep your small business profitable. Be transparent. Let customers know about the increase and help them understand why.
Offer deals. Inflation impacts each part of the supply chain. Consumers are on the look out to save money as well, so offering deals brings opportunity for new customers. Deals will look different for each company, but by evaluating your business’ products and services, you can find the best method for your small business.
Prioritize customer service. When consumers know you care about their satisfaction, they’re more likely to do business with you, even if you raise prices. Don’t skimp on service by being understaffed. If you don’t have the budget for a full-time employee, look into freelancers and part-time staff.
Use technology. Artificial intelligence, automation, and self-serve customer options can reduce costs and take pressure off existing staff in an already tight labor market. Assure that while incorporating technology to be energy efficient to continue to cut costs.
For more information, visit bbb.org.
About BBB of Eastern Carolinas
Better Business Bureau serving Eastern Carolinas is a 501(c)(6) not-for-profit corporation serving 48 counties in North and South Carolina. The organization is funded primarily by BBB Accredited Business fees from over 5,200 local businesses and professional firms. BBB promotes integrity, consumer confidence and business ethics through business self-regulation in the local marketplace. Services provided by BBB include reports on companies and charitable organizations, general monitoring of advertising in the marketplace, consumer/business education programs and dispute resolution services. All services are provided at no cost to the public, with the occasional exception of mediation and arbitration. Visit BBB.org.
