Small businesses adapt to rising costs and uncertainty

Small business leaders are navigating a complex mix of economic pressure and opportunity, balancing inflation, rapidly increasing operating costs, workforce shortages and much more. While there is much uncertainty in today’s business climate, business owners in varying industries are staying resilient and adaptable. Whether it is adopting new technologies, focusing on how to forge stronger customer relationships or identifying out-of-the-box growth strategies, businesses across the Southeast are committed to growing and remaining competitive, no matter what challenges or trends come their way.

Some members of the South Carolina 500 weighed in on how things are going on the small business front.

Challenges and Opportunities

Britton Briley, CEO of Ghost Brands, believes that small business owners are talking about one word more than anything else right now: pressure. That could mean on margins, payroll, pricing, customer acquisition or keeping up with the latest technology.

Briley shared, “In the Southeast specifically, I think owners are still optimistic, but they are much more cautious than they were a few years ago. The days of ‘growth at all costs’ are over for a lot of small businesses. Now the conversation is more about smart growth, sustainable systems, better cash flow and making sure every dollar spent has a purpose.”

Katie Collins, president and CEO of Greater Greer Chamber of Commerce, spoke of the growth that defines the Upstate. And while that growth is exciting, it has also impacted small business trends and challenges.

“Greer alone has grown from roughly 25,000 residents in 2010 to more than 50,000 today, and that number continues to climb,” she explained. “That momentum is creating opportunity, but also putting pressure on workforce needs, housing and infrastructure. Workforce availability, rising operating costs and more selective consumer spending remain top concerns.”

And while leading with passion is key to scaling sustainably for many business owners, it is not the only thing that can bring success. Nicole Johnson, CEO and co-founder of Boyd Cycling, said that the biggest challenges they face right now are managing growth, rising costs and increased complexity — all without losing control of the business they’ve worked so hard to build.

“The conversations I’m having with other founders aren’t about big ideas (well, we still have BIG ideas) — they’re about cash flow, discipline, and how to scale without putting the company at risk. We’re also doubling down on our core: great product, a strong brand and a customer experience that stands out. Because trends will change. Markets will shift. But if those fundamentals are strong, the business can evolve with them.”

A shift in tradition

Marketing and advertising are also big topics that businesses are discussing right now. Amy Chico, senior vice president of HLA, said her team is rethinking typical efforts in those areas.

Chico said, “Is the time spent on creating a social media presence going to advance our business, and how? We aren’t cutting costs; we are trying to rebalance our spending so it’s more intentional and mindful.”

At Charleston public relations firm CBPR, where marketing and PR are at the core of its operations, Charlotte Berger, founder, explained that traditional media opportunities have become more limited and competitive. This shift has changed how they do business and how they serve their clientele.

“Clients are looking for a more cost-effective, hands-on approach that still delivers strong regional and national press, while also prioritizing local partnerships and community-driven strategy,” Berger said.

Her company has expanded into new industries and has doubled down on adding more digital advertising capabilities across Google and Meta. “We’re firmly in a growth phase. Our focus is not just on scaling, but on maintaining the quality of our work and the strength of our internal culture.”

Briley agreed that investing in a strong digital presence is a trend that is likely not going away any time soon.

“Small businesses are realizing they cannot afford to look small anymore,” Briley said. “Whether you are a restaurant, contractor, municipality, medical group, retail brand or sports organization, your digital presence is often the first impression. Businesses investing in brand, content, websites, social media and customer experience are the ones separating themselves from competitors. The opportunity is in building brands with structure: clear messaging, strong visual identity, consistent content, better storytelling, smarter advertising and a customer experience that matches the promise.”

Looking ahead

While business leaders traverse a dynamic landscape, their focus remains on building something that stands the test of time.

Karina Garrison, senior vice president at Pinnacle Financial Partners said, “Small business owners show up every day with resilience, grit and incredible commitment to their teams and communities. That’s exactly why it’s so important to support them