In particular, rent inflation is a pressure point for small businesses, according to new data from the
Some parts of the country have higher rents. In
But easing wage inflation has taken some pressure off of small businesses.
To calculate rent share,
The average monthly rent payment growth per small business client was up 12% year-over-year in May. The rent payments per client closely track the nonresidential real estate rents component of the Producer Price Index, which suggests the increases are largely due to inflation rather than small businesses upgrading to bigger or better space.
Another bright spot from internal data: A metric called the inflow-to-outflow ratio, which
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