Small businesses should plan now for coronavirus supply disruptions

Amazon worker in Seattle tests positive for COVID-19


On Facebook today, I saw a post that we, in this coronavirus moment, should all bear in mind. It went something like this:

2000 – Y2K will be the end of us all

2001 – The terrorists are going to murder us

2003 – SARS is going to infect us

2006 – E-coli is going to kill us

2008 – The recession going to destroy us

2009 – Swine flu is going to slaughter us

2013 – North Korea is going to nuke us

2015 – ISIS is out to obliterate us

2020 – Coronavirus is going to kill us

So, while yes, we all need to calm down, it is nevertheless also true that we need to be diligent, and if you own or work in a small business, you also need to be smart and savvy.

Take China as a cautionary tale. Recent reports coming out of China indicate that millions of small businesses are on the verge of collapse. But that is also because 1) China has been affected and infected to a far greater degree than the U.S. (at least so far), and 2) Whole cities are in lockdown, guaranteeing that people cannot and/or will not venture out into public places like restaurants and stores.

A doorman distributes hand sanitizing liquid for visitors at a luxury mall in Bangkok, Thailand, Tuesday, Jan. 28, 2020. Panic and pollution drive the market for protective face masks, so business is booming in Asia, where fear of the coronavirus from China is straining supplies and helping make mask-wearing the new normal. (AP Photo/Gemunu Amarasinghe)

Fortunately, nothing like that is going on here, at least not yet, and so the effects are far smaller. But, that said, smaller is not the same as absent. As the virus spreads, it will increasingly be felt by American businesses and workers.

Indeed, the U.S. and China do have this in common: Both countries are heavily dependent on small business for everyday goods and services. In China, 80% of business is small business, and in the U.S., that number is closer to 95%.


Source link

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.