Small businesses face job cuts as economic pressures mount

Small businesses are experiencing significant job cuts, with firms employing fewer than 10 people reducing staff for 13 consecutive months. This trend is attributed to a combination of factors including tariffs, high interest rates, expensive health insurance, and surging energy costs, leading to widespread financial strain. The situation contrasts with earlier optimism following the 2024 election, and some owners are contemplating layoffs or selling their businesses to survive.