supply chain issues reached national public attention due to shortages of necessities like toilet paper and food items. Despite efforts to adapt, these issues continue to plague businesses of all types in the new year.Not one company is safe.
Around 97% of businesses worldwide have been negatively affected by supply chain disruptions. 81% of businesses report lower demand for their products compared to previous years.
Together, decreased supply and demand make for a harsh market; 76% of businesses reported reduced revenue averaging 23% in 2020.While these adverse conditions are present in businesses of all sizes, small firms face the greatest challenges.
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