The biggest challenge facing US small businesses? Rising interest rates | Gene Marks

Financial help is available to small businesses - but this funding is competitive, time-consuming and difficult to receive

The Federal Reserve chair, Jerome Powell, has been warning for some time that it takes time for interest rate rises to filter through to the real economy. Well, here we are.

Since March, 2022 the Fed has increased its federal funds rate - the rate it charges to its member banks to access money - from 0.25% to 5%. That's a 20-fold increase in just a year. The Fed meets again this week - and may raise rates again.