""Our shipments leaving from Ethiopia need extra insurance now because of the war. Shipping vessels have been hit in previous years.""
""Fuel prices may impact our profitability in a way that will be difficult to recoup this year.""
""It's necessary to mitigate supply chain risk.""
""The timeline is atypical for the business and pacing ahead of its customer order forecasts.""
Small businesses in America are facing severe challenges due to rising fuel prices, which have surged past $100 per barrel. Wonderstate Coffee has seen import costs increase by 5% to 8% and is now required to insure shipments from Ethiopia due to war-related risks. Other companies, like Bogg, are preemptively purchasing materials to mitigate supply chain risks. The overall impact of these rising costs raises concerns about profitability and operational adjustments for small businesses navigating these economic pressures.
Read at www.businessinsider.com
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