Story perspectives

Small Businesses Suffer: Job Losses and Soaring Costs

11/19/2025

Summary

Story summary

Tariffs have driven job losses and higher prices for small businesses, as Doug Scheffel laid off 25% of ETM Manufacturing's Massachusetts workforce.
Khari Parker, co-founder of Connie’s Chicken and Waffles, reports borrowing rates of 20% to 30% for small firms.
The National Federation of Independent Business notes a 120% rise in health insurance costs for small firms.
One in four U.S. households lives paycheck to paycheck, illustrating broad financial strain.

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Story summary

Tariffs have driven job losses and higher prices for small businesses, as Doug Scheffel laid off 25% of ETM Manufacturing's Massachusetts workforce.
Khari Parker, co-founder of Connie’s Chicken and Waffles, reports borrowing rates of 20% to 30% for small firms.
The National Federation of Independent Business notes a 120% rise in health insurance costs for small firms.
One in four U.S. households lives paycheck to paycheck, illustrating broad financial strain.