In the News: Major Product Shortages on the Horizon

According to Fox Business, Retail Expert Expects Major Product Shortages Soon. This is part of the continuing supply chain disruptions since the COVID-19 pandemic started. And this has resulted in different industries facing more supply chain issues. From chicken to toilet paper, it has now moved to paint. Sherwin Williams says the suppliers responsible for providing the products they need to make paint are lagging behind. In this case, it is not only COVID-19 but also Hurricane Ida.

The supply chain challenges are especially difficult for small business owners. Price increases on chicken, bacon, paint as well as other items mean slimmer profit margins and even losing business altogether for restaurants, contractors, and others. The good news is experts are expecting the bottlenecks in the supply chain to fully open. And once that happens the market should correct itself while getting rid of the high prices.

 

Small Business News – October 1, 2021

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These Cities Have the Youngest Entrepreneurs in America

Research conducted by lending experts has discovered where you can find the youngest average age of entrepreneurs in the United States. Data analysts at LendingTree studied anonymized data from over 100,000 borrowers seeking loans specifically to start a business and to identify the average age of entrepreneurs in each metro area.

How to Avoid PPP Loan Forgiveness Common Mistakes

You might have to pay back a portion of your PPP money, even if your business completely qualifies for forgiveness. That’s what could happen if you make a mistake with your PPP forgiveness paperwork. If there was ever a time to dot the Is and cross the Ts, it’s with the PPP forgiveness application.

Shop 1-in-5 Relaunches Small Business Directory to Feature Values-Based Businesses

Shop 1-in-5, a movement to support small businesses to potential and essential growth, has relaunched its online small business shopping directory with value-based customizations. The relaunch comes with just 100 shopping days left before Christmas.

Etsy Offering Planet-Friendly Packaging to Sellers

Etsy, the global online marketplace for making, selling and buying unique items, has announced the launch of a new Planet-Friendly Packaging initiative. The packaging is aimed at merchants who want to make greener choices for their business and join Etsy is crafting a more sustainable marketplace.

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This article, “In the News: Major Product Shortages on the Horizon” was first published on Small Business Trends