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Surviving tariffs: 5 steps small businesses should take now

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Experts say small companies should connect with their suppliers and customers, front-load on essentials, cut costs, and join forces with other organizations.
The article from Fortune discusses the challenges faced by small businesses due to tariffs and import issues, particularly focusing on the impact of the U.S.-China trade war. Small businesses, which often lack the resources and leverage of larger corporations, are struggling with increased costs and supply chain disruptions. The article highlights how tariffs on goods from China have forced many small business owners to either absorb the additional costs, thereby reducing their profit margins, or pass them on to consumers, risking a loss in sales. Additionally, the unpredictability of trade policies has made it difficult for these businesses to plan effectively, leading to further uncertainty and financial strain. The piece also touches on the broader economic implications, noting that small businesses are a significant driver of the U.S. economy, and their struggles could have ripple effects across various sectors.

Read the Full Fortune Article at:
[ https://fortune.com/article/small-businesses-tariffs-imports-supply-chain/ ]