In the month of November 2019 the first case of Corvid-19 began in China. As the rest of the world watched, the virus quickly spread at an unprecedented rate and the pandemic had begun. The number of infected people reached an excess of eighty thousand as the virus began to trickle out beyond the borders of China. Country after Country scrambled to deal with virus as it began to claim victim after victim.
Soon the virus was making it's presence known within the borders of the United States of America. Five months later and the U.S.A. leads all other nations in total number of Corona virus infections. Having a trade deficit of four billion dollars, it is very evident that the U.S. relies on China to provide many critical and basic products needed for our daily lives. As the leading supplier of most products desired to deal with combatting the virus, China has been slow or unable to provide the items being sought after. Not only have our nation been crippled by a lack of products needed to sustain our everyday lives, but according to Business Insider and Global News China has been battling the release of counterfeit N95 mask leaving the country.
Many of our home-based internet businesses depend on Chinese exports to provide an array of products for us to sell. With all the chaos going on, many businesses have been limiting the number of products that they offer. Not knowing how long the pandemic will affect trade, no-one truly knows how this will impact the millions of companies that rely on Chinese products. Besides the trade difficulties some business owners are concerned about receiving items which may be tainted with the Corona virus.
There can be opportunity for Black entrepreneurs to emerge and create new supply chains. On the continent of Africa there are many countries that produce low cost items which could be used to supplement or offset your Chinese items. You can also begin to create items which can be made at a local factory or constructed in your basement, living room, or garage with the help of friends and family. Other ideas include transitioning into a more service based business, as it fulfills a need which most likely can't be outsourced to another country.
As a Black business owner or a consumer facing these challenging times, what will be your plan moving forward? Will you continue with business as usual or will you look for other opportunities to support, connect, and network with Black owned businesses and suppliers?
Whatever directions you decide to take, remember that SBO is here to help. We offer a platform for you to connect and network with Black owned businesses waiting to serve you.
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