Restaurant Startup Growth and Business Outlook for 2024
Modern Restaurant Management
MARCH 21, 2024
Twenty twenty-three, began with a banking crisis and ended with the highest interest rates America has seen in fifteen years. It also ended with continued economic growth and low unemployment, making it a profitable, yet challenging year for small businesses in the food service industry. Continued Fed tightening made borrowing to fund growth more expensive, while a tight labor market meant challenges finding talent and higher labor costs.
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