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New report shows local businesses are worried about financial future

A recent report from the Hampton Roads Chamber highlights that local businesses in Chesapeake are increasingly concerned about their financial future due to ongoing economic challenges. The survey, which included responses from over 200 business leaders, revealed that 68% of participants are worried about the impact of inflation and rising costs on their operations. Additionally, 55% of businesses reported difficulties in hiring and retaining employees, exacerbating their financial strain. The report also noted a significant drop in consumer spending, with many businesses struggling to maintain profitability. In response, the Chamber is advocating for more supportive policies from local and state governments to help alleviate these pressures and foster a more stable economic environment for the region's businesses.

Read the Full WTKR Article at:
[ https://www.wtkr.com/news/in-the-community/chesapeake/new-report-shows-local-businesses-are-worried-about-financial-future ]