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close video Small Biz Boom: Despite tough economy, small businesses are growing post pandemic

Despite a tough economy, a record number of small businesses have launched nationwide in the last two years.

Inflation has eased some in recent months after hitting a four-decade high last year, but worries over rising costs are now at an all-time high for small businesses.

The U.S. Chamber of Commerce's Q1 Small Business Index found a record 54% of owners cited inflation as their top concern for the first three months of the year, marking the fifth consecutive quarter respondents pointed to cost increases as the number one stressor.

Kymme Williams-Davis sits outside Bushwick Grind Caf, as she juggles taking online orders and working behind the counter, Sept. 8, 2022, in New York. Williams-Davis said she hasn’t seen costs going up this much since she opened her caf in 2015. (AP Photo/Bebeto Matthews / AP Newsroom)

Respondents' confidence in the national economy also declined in the first quarter, with only one in five (20%) small business owners saying the economy was in good health. That's down from 27% in the previous quarter.

The survey results indicate a greater reluctance among owners to expand in the short term. Only 38% said they plan to boost investment in their business over the next year, a drop from 47% in the fourth quarter of 2022.

HOW THE BANKING CRISIS COULD HAMMER SMALL BUSINESSES

Tom Sullivan, the Chamber's vice president of small business policy, says the data shows small business are resilient and bullish on their own operations, but see tough times ahead for the economy as a whole and do not want to end up overextended. close video The battle against inflation is not over: Neil Dutta

RenMac Head of Economic Research Neil Dutta gives his take on Fed Chair Powell’s efforts to combat inflation and reflects on the state of the U.S. economy on ‘Making Money.’

Sullivan said small business owners are frustrated with leaders in Washington, D.C., because the actions that could bring inflation down are not being done.

He listed off priorities like bringing more legal workers into the U.S. to fill open jobs, lowering domestic energy costs, and streamlining permits to allow trucks to move and shovels to get into the ground to realize growth from the bipartisan infrastructure bill.

RESTAURANT OWNER MARY MURDOCK SOUNDS OFF ON US CRIME SURGE: ‘PEOPLE ARE SCARED’ TO COME IN

Small business owners are looking at numerous factors beyond just price hikes on goods that are driving up their cost of doing business when they cite inflation as a concern, he explained.

Small businesses are struggling to fill open positions, and being forced to pay more to hire and retain employees. (iStock / iStock)

"We have the economist definition, but then we also have the small business definition," Sullivan told FOX Business. "When it's harder to find and hire employees, and it's harder to keep your existing employees, the folks I talk with every day call that inflation if they have to raise their wages to their employees."

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"There's no real distinction," he added. "It's all part of this giant gumbo."

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Hard-throwing rookie Misiorowski going to ASG

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Hard-throwing rookie Misiorowski going to ASG

Hard-throwing rookie Jacob Misiorowski is a National League All-Star replacement, giving the Milwaukee Brewers right-hander a chance to break Paul Skenes‘ record for the fewest big league appearances before playing in the Midsummer Classic.

Misiorowski was named Friday night to replace Chicago Cubs lefty Matthew Boyd, who will be unavailable for the All-Star Game on Tuesday night in Atlanta because he is scheduled to start Saturday at the New York Yankees.

The 23-year-old Misiorowski has made just five starts for the Brewers, going 4-1 with a 2.81 ERA while averaging 99.3 mph on his fastball, with 89 pitches that have reached 100 mph.

If he pitches at Truist Park, Misiorowski will make it consecutive years for a player to set the mark for fewest big league games before an All-Star showing.

Skenes, the Pittsburgh Pirates right-hander getting ready for his second All-Star appearance, had made 11 starts in the majors when he was chosen as the NL starter for last year’s All-Star Game at Texas. He pitched a scoreless inning.

“I’m speechless,” said a teary-eyed Misiorowski, who said he was given the news a few minutes before the Brewers’ 8-3 victory over Washington. “It’s awesome. It’s very unexpected and it’s an honor.”

Misiorowski is the 30th first-time All-Star and 16th replacement this year. There are now 80 total All-Stars.

“He’s impressive. He’s got some of the best stuff in the game right now, even though he’s a young pitcher,” said Yankees slugger Aaron Judge, who is a starting AL outfielder for his seventh All-Star nod. “He’s going to be a special pitcher in this game for a long time so I think he deserved it and it’s going be pretty cool for him and his family.”

Carlos Rodón, Carlos Estévez and Casey Mize were named replacement pitchers on the AL roster.

The New York Yankees‘ Rodón, an All-Star for the third time in five seasons, will replace teammate Max Fried for Tuesday’s game in Atlanta. Fried will be unavailable because he is scheduled to start Saturday against the Chicago Cubs.

In his final start before the All-Star game, Rodón allowed four hits and struck out eight in eight innings in an 11-0 victory over the Cubs.

“This one’s a little special for me,” said Rodón, an All-Star in 2021 and ’22 who was 3-8 in his first season with the Yankees two years ago before rebounding. “I wasn’t good when I first got here, and I just wanted to prove that I wasn’t to going to give up and just put my best foot forward and try to win as many games as I can.”

The Kansas City Royals‘ Estévez replaces Texas’ Jacob deGrom, who is scheduled to start at Houston on Saturday night. Estévez was a 2023 All-Star when he was with the Los Angeles Angels.

Mize takes the spot held by Boston‘s Garrett Crochet, who is scheduled to start Saturday against Tampa Bay. Mize gives the Tigers six All-Stars, most of any team and tied for the franchise record.

Royals third baseman Maikel Garcia will replace Tampa Bay‘s Brandon Lowe, who went on the injured list with left oblique tightness. The additions of Estévez and Garcia give the Royals four All-Stars, matching their 2024 total.

The Seattle Mariners announced center fielder Julio Rodríguez will not participate, and he was replaced by teammate Randy Arozarena. Rodríguez had been voted onto the AL roster via the players’ ballot. The Mariners, who have five All-Stars, said Rodríguez will use the break to “recuperate, rest and prepare for the second half.”

Arozarena is an All-Star for the second time. He started in left field for the AL two years ago, when he was with Tampa Bay. Arozarena was the runner-up to Vladimir Guerrero Jr. in the 2023 Home Run Derby.

Rays right-hander Drew Rasmussen, a first-time All-Star, is replacing Angels left-hander Yusei Kikuchi, who is scheduled to start Saturday night at Arizona. Rasmussen is 7-5 with a 2.82 ERA in 18 starts.

San Diego added a third NL All-Star reliever in lefty Adrián Morejón, who replaces Philadelphia starter Zack Wheeler. The Phillies’ right-hander is scheduled to start at San Diego on Saturday night. Morejón entered the weekend with a 1.71 ERA in 45 appearances.

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M’s Raleigh hits 2 more HRs, brings total to 38

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M's Raleigh hits 2 more HRs, brings total to 38

DETROIT — Cal Raleigh hit his 37th and 38th home runs in Seattle‘s 12-3 victory over Detroit on Friday night to move within one of Barry Bonds’ 2001 major league record for homers before the All-Star break.

Raleigh hit a solo homer off former teammate Tyler Holton in the eighth to tie the American League record of 37 before the All-Star break set by Reggie Jackson in 1969 and matched by Chris Davis in 2013.

“[Holton] and I are really good friends, and I’ve caught a lot of his pitches,” said Raleigh, who was in the lineup as the designated hitter instead of at catcher. “I don’t think that helped much, but I’m sure he’s not very happy with me.”

Raleigh hit a grand slam off Brant Hurter in the ninth.

“I didn’t even know it was a record until just now,” Raleigh said. “I don’t have words for it, I guess. I’m just very grateful and thankful.”

It was Raleigh’s eighth multihomer game this season, tying Jackson (also in 1969) for the most such games before the All-Star break in MLB history, according to ESPN Research. He also tied Ken Griffey Jr. for the most multihomer games in Mariners franchise history.

Seattle has two games left in Detroit before the break.

“Cal Raleigh … this is just unbelievable,” Mariners manager Dan Wilson said. “He’s already set the AL record and now he’s only one short of Barry. There are two games, so who knows?”

Raleigh hit 10 homers in March and April, 12 in May, 11 in June and has five in July.

“This is a very boring comment, but baseball is all about consistency,” Wilson said. “This hasn’t been one hot streak, he’s doing this month after month. That says everything.”

The Associated Press contributed to this report.

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Bellinger goes deep for 3rd time after Cubs rob HR

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Bellinger goes deep for 3rd time after Cubs rob HR

NEW YORK — Robbed an inning earlier, Cody Bellinger wasn’t sure his first three-homer game had been swiped away again.

“I didn’t know at first,” he said. “For that third one to finally get over feels pretty good.”

Bellinger hit three two-run homers against his former team and was denied a fourth by a spectacular catch, leading the Yankees to an 11-0 rout of the Chicago Cubs on Friday night.

Aaron Judge made a trio of outstanding grabs in right field for the Yankees, who have won five straight games following a a six-game losing streak.

Bellinger, whose dad Clay played for the Yankees from 1999 to 2001, is a two-time All-Star and 2019 NL MVP.

He spent 2023 and 2024 with the Cubs, hitting .266 with 18 homers and 78 RBIs in 130 games last year while missing time because of a broken right rib. The Cubs traded him to New York in December with $52.5 million remaining on his contract and agreed to pay the Yankees $5 million.

He homered in a three-run third off Chris Flexen and in the fifth against Caleb Thielbar for this 18th multihomer game. Bellinger nearly went deep in the seventh but was robbed by Kyle Tucker on a drive above the right-field wall.

“I was watching it. He timed it up perfect, so I was a little sick about it, honestly,” Bellinger said. “But it was a good catch.”

“Boys were giving me a hard time after he robbed it. Boonie was giving me hard time,” Bellinger added.

A four-time All-Star and a Gold Glove winner, Tucker snatched the ball as a fan tried for it, the spectator clasping both sides of the outfielder’s glove.

“I caught the ball and he caught my glove, so I figured even if I dropped it they’d probably look at it and get it overturned,” Tucker said. “I’ve probably had some encounters with me trying to go into the stands and catching a ball and me hitting someone’s hand or whatever but I don’t know if anyone’s ever actually kind of caught my glove while doing it.”

Bellinger homered in the eighth off Jordan Wicks, just above the red glove of leaping center fielder Pete Crow-Armstrong and into the dark glove of a kid in the front row.

“The fan just beat to the spot,” Crow-Armstrong said. “He just had a better chance of catching it higher than I did.”

Bellinger, who had rounded first, watched and then smiled when he saw he had hit No. 3.

“Glad the fan caught it before PCA could grab it,” said Bellinger, who met the boy after and got the ball back. “I’ve seen PCA rob so many homers. He’s a freak athlete out there.”

Bellinger is batting .406 over a career-high 16-game hitting streak, raising his average to .285 with 16 homers and 54 RBIs.

He had spoken with his Cubs ex-teammates during batting practice.

“No, no, no revenge,” he said. “Honestly, ultimately it was just fun to be out there. I saw a bunch of guys I hadn’t seen in a while and I shared a bunch of good memories with them for these past two years.”

Jazz Chisholm Jr. and manager Aaron Boone encouraged Bellinger to emerge from the dugout for a curtain call.

“He was a little reluctant, but then the Bell-lin-ger” over the dugout got pretty loud. So I think he succumbed to it,” Boone said. “Belly’s loved being here and loved playing here in a meaningful place to him, going back to his childhood.”

Bellinger turns 30 on Sunday and can opt out of the final season of his contract this fall. With long balls and wide smiles, he seems to have found a home in the Yankees clubhouse.

He tried not to make much of getting the three homers against the Cubs, but Bellinger’s teammates could sense the significance.

“It’s always good to go against your old teammates that you spend a lot of time with, you know, you respect,” Boone said. “To perform right away against them I’m sure probably is a little cherry on top for him.”

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