Coffee shop owner holds Biden responsible for rising costs impacting business: ‘He needs to step down’

Small business owners across the country are feeling the pinch of rising costs and inflation, with many turning to credit cards to keep their businesses afloat. Maher Youssef, owner of Pluto Organic Cafe in Seattle, is one of those business owners who has seen his costs surge as inflation takes its toll.

Youssef believes that the Biden administration needs to do more to support small businesses like his, stating, “I think Biden should focus on that. If he can’t do it, he should resign.” According to a report by Bank of America, small businesses have been accumulating credit card debt to finance their operations, with small business credit card balances up 18% since 2019.

While inflation has decreased from its peak, it remains a significant concern for small business owners. About 28% of small business owners have had to raise prices in response to inflation, with 25% citing inflation as their top concern. Youssef explained that he can only raise prices minimally to avoid scaring away customers, highlighting the delicate balance small businesses must strike in the current economic climate.

Youssef called on President Biden to prioritize supporting American businesses over aid to other countries, stating, “Where is my money? Instead of helping small businesses, helping the people here, they just go give it to a different country?” President Biden, on the other hand, has blamed corporate greed for rising prices, vowing to crack down on businesses that engage in price gouging.

As small business owners continue to navigate the challenges of inflation and rising costs, the debate over how best to support them remains a key issue for the Biden administration and the business community.