What is the impact of inflation on small and medium size businesses ? please list both positive and negative consequences?

Its not inflation alone, the Governmental policies associated to your business and nature of your business depends aswell.

inflation increase inputs cost in one hand that lead to the increase of the total costs of production of goods and services, on the other hand as the firms forced to raise prices of its outputs consequently with time demand start to fall becuase of higher prices while cost continue to increase