Hormuz disruptions hitting small businesses hardest, UN trade agency warns
UNCTAD said smaller firms face higher energy, freight and financing costs, with 90% of global businesses vulnerable to supply-chain disruption.
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Interruptions in the Strait of Ormuz can drive small and medium-sized enterprises away from global supply chains, increasing economic concentration and weakening the resilience of international trade, said the United Nations Conference on Trade and Development on Tuesday. Increasing energy accounts, freight rates, insurance premiums and financing restrictions caused by the conflict between the United States and Iran impose heavier burdens on sma…
Hormuz disruptions hitting small businesses hardest, UN trade agency warns
The disruptions in the Ormuz Strait could take small and medium-sized enterprises (SMEs) out of global supply chains, which would lead to a greater concentration of economic activity and weaken the resilience of international trade, warns the United Nations Conference on Trade and Development (UNCTAD), the United Nations Agency for Trade and Development worldwide, [...]
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unimedia.infoThe disruption of maritime traffic through the Ormuz Strait disproportionately affects small and medium-sized enterprises and risks pushing them out of global supply chains, which could lead to a greater concentration of economic activity.
The price of fuels is also damaging small businesses that depend on transport. Costs are even worse in the interior of the country due to distances, and companies say they are becoming less competitive.
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