Business Smarts

Spa owners are naturally anxious about rising interest rates and the impact of inflation on their businesses. “Aggressive” was the best way to describe the actions of the Federal Reserve last year as it moved quickly to try to get a handle on inflation by increasing its benchmark interest rate from practically zero to almost 4.75 percent. The Fed has not indicated any intention to cut the federal funds rate in 2023, either – so what’s a spa owner to do?