Small Business … Consider The Possibilities
Quality Business Defined
SMALL BIZ 2022 #1 PRIORITY - ONLINE REVENUE SALES
US Small Business Suffering
SBA Survey Highlights Supply Chain Suppliers’ Disruptions
Is your small business one of those being affected by supplier’ disruption? The Small Business Bureau’s Small Business Pulse Survey (SBPS) measures how COVID-19 has been affecting small businesses and captures the extent of some of these business disruptions for several years.
The Phase 5 survey reveals that 38.8% of U.S. small business respondents reported domestic supplier delays in the most recent and final week (7/12-18) in the Phase 5. That’s increased from the 30.9% portion during the last week (4/12 –18) of Phase 4.
By percentage, businesses by sector that reported domestic supplier disruptions the last week of phase 5 saw:
- Manufacturing, 64.6%.
- Retail, 59.8%.
- Construction, 58.5%.
- Accommodation/Food Services, 51.4%.
And businesses that reported foreign supplier delays increased from 12.2% at the end of Phase 4 (ended in April) to 15.9% at the end of Phase 5. Wholesale small business respondents showed the highest impact at 41.7%.
Also, 17.7% of respondents indicated they were forced to identify new supply chain options in the next six months (compared with 14.0 % at the end of Phase 4.) Also, a 39% segment of manufacturing small business respondents indicated shipping/delivery delays at the end of phase 5 seeing 18.5% at the end of Phase 4.
So, What’s The Impact on Supply Chain Delays?
The survey measures how hard it was for small businesses to find alternative domestic suppliers: 18.9% reported difficulty at the end of Phase 5 and 13.0% at the end of Phase 4. It’s increasing! Finding alternative foreign suppliers was an issue for 7.2% of respondents at the end of Phase 5, compared with 4.7% at the end of Phase 4. The share of small business respondents reporting production delays also rose, from 9.5% at the end of Phase 4 to 12.4% at the end of Phase 5.
The SBPS also asks whether the availability of other supplies or resources used to provide goods or services affected operating capacity. Here, too, the percentage who said “yes” increased, from 10.9% at the end of Phase 4 to 15.0% at the end of Phase 5.
Phases Cover Following Periods:
- Phase 1: April 2020 - June 2020
- Phase 2: August 2020 - October 2020
- Phase 3: November 2020 - January 2021
- Phase 4: February 2021 - April 2021
- Phase 5: May 2021 - July 2021
- Phase 6: August 2021 - October 2021
- Phase 7: November 2021 - January 2022
- Phase 8: February 2022 - April 2022
Companies who depend on a consistent supply chain for the goods they sell, should be watching & tracking this great resource. In the next few months; check out Phases 6, 7, and 8 Small Business Pulse Survey (SBPS).
Pat Dwight, HQZ Experts – Info: Jane Callen - Census Bureau Communications
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