Small businesses took on debt and raised prices to cope with tariffs

Tariffs imposed last year drove small business owners to take new debt, tap into retirement savings and raise prices, among other measures, according to a national survey released this week. Many businesses experienced challenges beyond the cost of tariffs, said national grassroots group We Pay the Tariffs in a survey of 241 businesses in 40 states, including six in Illinois. In Chicago, yarn store Dropped Stitch, incense maker Genieco and furniture seller Moderne Living participated in the…