Will Tariffs Hurt Small Business: Some More Than Others

byboomergp08

31.5K followers

7 months ago

There is no denying that this world in which we all live, is going through some really major changes. Between the wars, ever increasing natural disasters, infectious outbreaks, stock market crashes, violence, perversions and yes...tariffs, a Trade War.

Will tariffs hurt small business? The short answer is yes. If tariffs are going to hurt the big businesses, then it's a safe bet that the small business community will not escape higher costs. I live in New Jersey within 20 miles of the 2nd largest freight seaport in the U.S.

The image above that I am using for the header and the one at the bottom of this post is of the Port of Newark, NJ. Prior to the Trump tariffs kicking in, the Port of Newark was a busy area full with at least a dozen container ships unloading, railroad cars and container trucks transporting.

As the images above and below show, only 1 or 2 container ships unloading. On this end of the Port they can easily fit 7 ships, there are 5 more cranes to the right of this view. Another sign the tariffs are hurting are the amount of containers. Normally they are stacked 6 high, not 3 and 4.

NOT ALL SMALL BUSINESS WILL BE HURT BADLY

Let me just say right now. Everyone is going to feel an impact from these tariffs, but there are some types of small businesses that will survive and even thrive in the age of product tariffs. What are they? Small businesses that utilize Affiliate Marketing for revenue.

I used to be an eBay Top-Rated Power Seller. If I was still doing eBay these import tariffs would greatly hurt my income. The reason for this would be based on the fact that I purchased wholesale for everything I sold and about 70% of it was made in China and Mexico.

However, doing affiliate marketing removes the necessity for me to buy and stock products for sale. Now all I do is share my affiliate link in person, on social media, on my website or a combination of all three. Affiliate marketing can generate you income even during hard times.

With government workers and now dock workers along with truck drivers worrying about their income, starting an online affiliate marketing business can be what creates a financial safety net. Who knows if retirement will be what we all hoped it would be. Things are so different now.

IT TAKES TIME TO GROW A NET

I have been a member here since 2013. I have seen so many members go on to great success, medium success, a little success and others who have quit. This should be proof that it takes time to build, grow, test and adjust. Eventually you will see income starting to come in.

You cannot be complacent in the growth of your business and you must be open to change and failure. There will come a time when you will start looking into other great niche ideas. Perhaps the niche you are working on is either up and running or it doesn't seem to be working out.

When it is the latter, I highly recommend that you wait at least a year for working to build the niche you are trying to grow before looking into another. You need to concentrate on the time spent on growing your future safety net. It takes time to grow a financial safety net.

I know Wealthy Affiliate are in the process of updating the platform. When it has finally been fully released, WA will have gone through at least 6 platform updates since I have been a member. If you want to have another reliable source of income, choose Wealthy Affiliate.

WILL TARIFFS HURT SMALL BUSINESSES?

Yes, but it cannot hurt them too much if that business is based in online affiliate marketing. Seeing how you do not have to buy, stock and ship the actual products, you will still see a slow down in sales and commission totals. Thankfully affiliate marketing will stay steady in growth.

Whether your financial safety net grows slow or grows fast, always stay focused on moving forward. It's not a race. It is a marathon. With the economic future of this world looking uncertain, NOW is the time to take advantage of the opportunities here at Wealthy Affiliate.

If you are reading this and you are a Free Member here at WA, upgrading will be beneficial to your financial safety net. If you are reading this and you are not yet a member of Wealthy Affiliate, come join this growing, upgrading, helping community of online affiliate marketers.

I cannot wait to see this new WA platform update. It's one of the many reasons why I have no plans to ever leave this great community. I know the training works! I know success takes time, failure and change. I am making good money in my niche and that would not have been possible without WA. If you have an comments or questions, please leave them below and much success.