The US tariff debate continues to cause ripples across the global economy. Tensions between major trading nations and the US are heating up, and while your small business may not deal directly with the US, the impact could still reach your supply chain, costs, and customer demand.
If you’ve been wondering how these global changes could affect your business, you’re not alone. Here’s a breakdown of the 7 key areas of concern — and what you can do now to protect your business.
1. Falling Confidence Can Mean Falling Sales
When global uncertainty rises, both consumers and businesses become more cautious — cutting back on spending, delaying projects, and avoiding big commitments.
Even if you don’t export or import, your customers might, and their pullback could affect your orders. This is especially true if what you offer is seen as a “nice-to-have” rather than essential.
What you can do:
- Focus on customer retention: Offer flexible packages, smaller commitments, or targeted promotions.
- Reframe your value proposition so customers see your product or service as a must-have.
- Review your sales mix: Are you too dependent on one client or sector that’s vulnerable?
Quick Tip: Review your last 6 months of sales. Any signs of slowing? Start building a cash buffer now or consider ways to smooth out income.
2. Your Costs Might Start Creeping Up
Tariffs don’t just impact big importers. If your UK suppliers are sourcing goods from abroad, rising costs may eventually land on your doorstep.
What you can do:
- Set up a simple cost tracker (even just a spreadsheet) to monitor prices from suppliers each month.
- Review your margins and consider whether your pricing needs to be adjusted.
Quick Tip: Haven’t reviewed your costs in 6 months? Now’s the time. We can help you benchmark supplier pricing and assess your margins.
3. Your Customers Might Be Feeling the Pressure
If your customers are affected by rising costs or global uncertainty, it can show up in smaller orders, slower repeat business, or longer payment terms.
What you can do:
- Check in with your top clients. Ask how things are going and whether they’re seeing changes in demand or pricing.
- Use this insight to adjust your offerings and provide more relevant support.
Quick Tip: A quick email or call to your top 5–10 customers this month can give you valuable info and deepen those relationships.
4. Time to Rethink Supplier Relationships
Even if your suppliers are UK-based, they could be experiencing cost hikes, delivery delays, or even product shortages due to global disruption.
What you can do:
- Check where your key suppliers source from. Are there risks?
- Have a back-up plan in case one supplier becomes unreliable or too expensive.
Quick Tip: Ask your top suppliers if they expect changes in pricing or availability over the next 3–6 months — don’t wait until you’re stuck.
5. You Might Be Affected by Tariffs in Other Countries
US tariffs on countries like China may lead to global supply chain shifts. This might create opportunities — or make certain goods harder (or more expensive) to get.
What you can do:
- Audit your critical stock or equipment: Would it be hard to replace quickly or affordably?
- Planning a big investment? You may want to move sooner rather than later.
Quick Tip: If you rely on imported goods — even indirectly — consider forward-ordering or locking in prices now.
6. The UK Could Respond with Tariffs of Its Own
The UK is reviewing whether to impose retaliatory tariffs. If it does, this could reshape pricing, sourcing, and supplier availability — with both risks and opportunities for your business.
What you can do:
- Avoid locking yourself into long-term supplier contracts if tariffs might shift things soon.
- Look out for local suppliers who could become more competitive if import prices rise.
- Explore new markets or gaps where competitors might pull back.
Quick Tip: UK-made goods might become more attractive. Could you promote your local products more strongly?
7. Stay Focused on What You Can Control
It’s easy to feel overwhelmed by global headlines, but your power lies in being proactive, prepared, and responsive.
What you can do:
- Keep a close eye on your cashflow and costs.
- Stay in regular touch with customers and suppliers so surprises are less likely.
- Review where your business is most exposed — pricing, stock, customer demand, etc.
Quick Tip: Even a simple monthly check-in on your numbers can help you make better decisions and sleep easier.
Stay Agile, Stay Informed
While global tariffs may seem far away, the effects could reach your business faster than expected — especially if you rely on imported goods, specific suppliers, or sectors under pressure.
The good news? You don’t have to navigate it alone.
Need help spotting the risks — or opportunities — for your small business?
Get in touch with us today. We’re here to help you stay ahead, adjust smartly, and keep your business strong through uncertain times.
