Cargo Ships in China
If there is one thing the pandemic taught the world, it was that we are over-reliant on China for everything from the key ingredients used to make cleaning agents to pharmaceuticals, surgical masks to personal protection equipment. That’s not diversification of risks. Small businesses owners get it.
Even if they’re not in the business of making Lysol wipes, 56% of 635 North American small business owners surveyed by OFX, a global money transfer operator, said they are considering switching supply out of China, or have already done so.
Some 61% of those sourcing product from China, and elsewhere, said they were looking for domestic partners.
Slightly more than half of small businesses said the outbreak that started in China in December hurt their supply chains, OFX reported.
“We were having problems with China supply chains back in November,” says Aaron Sokol, CEO of Q4 Sports, a…
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