Small Business Knowledge Network w/ Jim Vogel: The War in Iran and Your Small Business
- Small Business Knowledge Network
The U.S.–Israeli war with Iran has already driven oil prices sharply higher as exports and shipping through the Strait of Hormuz are disrupted. That translates into higher costs for fuel, freight, and many everyday inputs, even if you are a small local business. Energy issues also risk renewed inflation and slower economic growth, which can dampen customer spending and possibly delay our projects and plans as we head more deeply into 2026.
Our small businesses should address three key areas. First, understand your challenges. It’s crucial to reassess costs that can make or break your business. Place potential increases into the budget so you can absorb them rather than pass costs to the customer. Second, boost flexibility: assess suppliers, maintain a short “plan B” list for critical needs, and review insurance and credit lines to help you handle short-term shocks. Third, enhance communication: clearly explain any price changes, emphasize any efficiency improvements in products and services, and stay visible so customers see you as a stable, trustworthy option in an uncertain world.
Finally, use this war to get support from local networks. Crises often push buyers to favor nearby, reliable partners over the distant, fragile supply chains the big box organizations often use. By collaborating with other local small businesses and chambers, you can share resources, swap referrals, and turn global turbulence into a local advantage.
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The information in this blog article is for informational purposes and is not presented for any other reason.
This blog, about small businesses, is from Jim Vogel, Small Business Ambassador, Cornelius, NC.
Chair, Lake Norman Small Business Network
https://www.facebook.com/SmallBizKnowledgeNetwork
https://substack.com/@therespectedvoiceofsmallbusiness
smallbusinessknowledgenetwork@gmail.com
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The Small Business Knowledge Network is a division of I.M.U. Social Media LLC
The information in this blog article is for informational purposes and is not presented for any other reason
