Hiring and Growth

September 2, 2022: 6 Strategies to Help Your Business Combat Inflation

Mohini Kundu Content Marketer, Gusto 
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September 2, 2022

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6 steps for combating inflation

Inflation has far-reaching effects for business owners. One in three small businesses surveyed in the U.S. Chamber of Commerce Small Business Index Q1 2022 said inflation costs are their biggest concern right now. Chances are you’ve already dealt with increased costs, lower profits, or tighter cash flow in the past year—or all three. 

To stay afloat amidst rising inflation, it’s crucial to make financial changes. In addition to playing around with your pricing structure, you may also want to create a new passive income stream or invest in tech automations. 

In the meantime, the government is taking strides to reduce inflation with the recently passed Inflation Reduction Act (IRA). The legislation—which includes provisions on taxes, health care, and climate change—aims to support small businesses and families. Read more about the IRA here

Want to learn more about combating inflation? Discover six different steps you can take here.

Roe v. Wade resource hub

Since the Supreme Court overturned Roe v. Wade in late June, businesses of all kinds have been scrambling to figure out what the decision means for their employees and workplaces. Many employers have questions about how to support their employees, while many employees have concerns about their health insurance coverage. 

The overturn of Roe v. Wade is an important issue with a lot of variation from state to state. As a business owner, navigating the changing regulations can be confusing and overwhelming—so we’re here to help. Check out our Roe v. Wade resource center for more information on your state’s laws, FAQs about health insurance, and practical tips to guide employees through these changes. 

Critical September compliance dates

September isn’t just the start of Q4—it’s also an important month for HR, payroll, and tax compliance deadlines. Keeping your business compliant helps you take full advantage of the different plans and benefits you and your employees are entitled to, not to mention avoid expensive penalties.

The best way to ensure compliance is to stay organized. In one of our latest articles, we’re breaking down all the key September dates you need to know, including the deadlines for federal tax deposits and retirement plan employer contributions. 

Crack out your calendar and read the full guide here.

Fresh From Gusto

Watchlist

SEP 13: Building Capital Reserves During a Recession

One of the most effective ways to safeguard your business from a recession is to build up a cash reserve—but how do you do it? Where do you start? In this webinar hosted by Bench and Funding Circle, you’ll hear strategies from top funding specialists about how to plan for a potential cash crunch and get your business in good financial shape. Register here.

SEP 21: How to Turn Inflation and Recession into Your Largest Business Opportunity

The state of the economy has a massive effect on your operation, but you can’t control what happens on a macro scale. In this webinar, Oracle NetSuite and Entrepreneur are teaming up to discuss how businesses can thrive in times of financial uncertainty. You’ll get tips on streamlining your business, making micro-adjustments, and building a better business plan. Register here.

SEP 27: Talent Acquisition Strategy Is Your Small Business’ Secret Super Power

In the wake of the Great Resignation, it’s more important than ever to prioritize employee happiness and retention for your business’s longevity and success. Insider’s webinar—featuring speakers from Indeed, Gusto, and Elevated Diversity—will share talent acquisition strategies, tips for navigating the new employee landscape, and ideas for improving your employee retention rates. Register here.

OCT 4: NAWBO- Virtual Connect and Learn- Decrease Stress and Avoid Burnout

As a business owner, your most valuable asset is you. You can’t run a successful operation if you’re battling constant stress and exhaustion. That’s why the National Association of Women Business Owners (NAWBO) is hosting a webinar to support women business owners in de-stressing. Find out how burnout happens, learn how to identify your own stress triggers, and pick up practical tools for getting through the day easier. Register here.

Find the latest relief options in our Small Business Relief Finder.

Want more news and resources? Check out past editions in our archive.

Mohini Kundu
Mohini Kundu Mohini Kundu is a news editor on the Gusto content team. She studied journalism at Northwestern University and started her career at The Huffington Post before embracing the #startuplife.

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