Tariffs take a bite out of mom-and-pop stores as small business profit growth turns negative for first time in 18 months, BofA says

For the first time in a year-and-a-half, the growth engine of America’s small business economy has sputtered, with profitability growth slipping into negative territory in November. According to the December edition of the Small Business Checkpoint from the Bank of America Institute, rising costs associated with tariffs and inflation are forcing Main Street merchants to raise prices at historic rates, even as the holiday shopping season offers a critical lifeline.

While small business bank accounts remain in the black overall...