The ongoing Iran war is significantly impacting small businesses across the United States, causing disrupted shipping routes, rising costs, and constrained consumer spending.
Small business owners say the severe supply chain disruptions during the pandemic were worse, but they fear that if the war stretches on for months, it might start to come close.
Exports have been severely affected, with shipments worth millions left in limbo due to the shutdown of the Strait of Hormuz.
Shipping costs have surged for manufacturers, with some seeing a doubling of costs for containers from Vietnam.
The ripple effects are also being felt by service businesses, with higher input costs and suppliers warning of an impending spike in fertiliser prices.
Businesses are bracing for the impact, with some stockpiling supplies and attempting to lock in prices before further increases.
