The recent advisory by the U.S. Department of State warns businesses to take precautions when dealing with supply chains in Xinjiang, China. The advisory goes on to say, businesses with exposure in this region may suffer reputational, economic, and legal risks. The State Dept. Issues Supply Chain Advisory for Americans Doing Business in China’s Xinjiang Province article goes into further detail about the advisory.
Suffice it to say, it is one more issue for small businesses to keep an eye on if their supply chain is in that region. However, it is important to note it only affects the Xinjiang region for now. Make sure to monitor the U.S. Department of State and other government sites to stay informed.
This week’s roundup also looks at whether you should start your business as a Sole Proprietor or Limited Liability Company (LLC), how you can reduce shipping costs, and what to sell on Shopify.
Small Business News Roundup – July 23, 2021
Here is the rest of this week’s roundup:
The pandemic has had a huge impact on small businesses of almost every industry across the United States. Different businesses have been using varying ways to adjust to the disruption. To gain insight into the ways small businesses have been adapting to new ways of conducting business, DHL Express carried out a survey.
TikTok has announced it is hosting its first ever Small Biz Block Party, a 20-event workshop series where business owners gather, discuss tactics and strategies, and learn from each other. The workshop series are free to attend and are designed to help small business owners get together, learn, network and ultimately grow their business.
Square, providers of tools designed to empower small businesses, has launched a new suite of financial products designed to help small businesses manage cashflow and grow their business.
The relaunch of ExpenseOut will have new features powered by AI for small businesses. And as companies emerge from the pandemic, the goal is to help businesses cut down on indirect expenses. The company says this going to usher in the next generation of expense management.
Remote working continues to dominate many workforces, making it imperative teams have the right tools in place to streamline and optimize business operations. In response to the demand for more efficient working set-ups for modern teams, Justworks has launched Justworks Hours.
Almost two-thirds or 62% of consumers say they trust small/local businesses more than major retailers. This is compared to 36% who said they trust large, national retailers. But even though small businesses have consumer trust, they need to do more to keep it going. The data comes from Avions’ “New Habits Die Hard: How Trust Will Define Shopping in Summer 2021,” U.S. shopping report.
Online consumer purchases are increasing, and this means more shipping. And according to the latest research from ShipStation, more consumers are demanding shipping transparency from retail businesses. Consumers Demanding Shipping Transparency It is only natural for consumers to want a better shipping experience as they make more online purchases.
High shipping costs is off-putting for customers so it is crucial for ecommerce businesses to find the right balance. Reducing the initial costs as much as possible is the key to both companies and their customers benefiting the most, and this ultimate guide to reducing ecommerce shipping costs will show businesses of any size how to save lots of money.
When times get tough, the tough start new businesses. Or at least that was the case in 2020 when the Census Bureau recorded a substantial uptick in business formations. And so far, the trend hasn’t slowed. In May 2021 alone, more than 500,000 new business applications were filed across the U.S. Want to join the crowd? Here’s how to get started. Sole Proprietor vs.
Creating a Shopify store is one thing and making it a success is another. To grow your store fast, you have to start selling products that have a high purchase rate and healthy profit margin. So now comes the million-dollar question: what to sell on Shopify? We have conducted thorough research to prepare this complete guide on products to sell online.
This article, “In the News: Beware of Your Supply Chains in China” was first published on Small Business Trends