NEW YORK – Small business owners say they’ll survive no matter how difficult the business climate gets due to rising fuel costs and interest rates, according to The Associated Press
For example, businesses dependent on delivery vans and trucks are considering raising delivery charges and switching to diesel for better mileage to cope with the rising cost of gas.
The National Federation of Independent Business’ monthly optimism index has fluctuated between 98 and 101.5 since the beginning of the year, according to The Associated Press
. A spring survey of small and mid-sized manufacturers and distributors by RSM McGladrey found that 58 percent believe their companies are thriving.
Some businesses can benefit from economic uncertainty. Volvo Rents vice president Nick Mavrick says that franchise owners are contending with the same issues as other small business owners, but demand for their construction and industrial equipment due to rising interest rates has put profits up by and estimated 35 percent this year over last year.
Because interest rates have essentially doubled in the last two years, "they're better off renting than owning," Mavrick said of Volvo customers. Volvo Rents has 70 independently owned franchise operations in the U.S.