- July 28, 2021
- Posted by: Stratford Team
- Category: Business
The Pandemic disrupted the small business sector in many ways. Thousands of firms were required to close or limit business operations, and this produced a surge of over 20 million unemployed workers. A significant number of the affected firms directly served the general population (restaurant, salon, etc.). But many of the firms had other small firms as their customers, part of a supply chain (wholesale, supplies, food, etc.). When these firms can’t hire enough workers, or close down, this impacts the performance of firms at the end of the supply chain.
Over 30% of small businesses reported that supply chain disruptions have had a significant impact on their business(es). Another third reported a moderate impact. Over half reported that the impacts of these disruptions are worse than three months ago, only 6% saw an improvement. As the economy re-opens, more and more of the “imbalances” and “mis-matches” are being discovered, slowing…
