Most Small Businesses Say They’re Looking To Leave China
If there is one thing the pandemic taught the world, it was that we are over-reliant on China for everything from the key ingredients used to make cleaning agents to pharmaceuticals, surgical masks to personal protection equipment. That’s not diversification of risks. Small businesses owners get it.
Even if they’re not in the business of making Lysol wipes, 56% of 635 North American small business owners surveyed by OFX, a global money transfer operator, said they are considering switching supply out of China, or have already done so.
Some 61% of those sourcing product from China, and elsewhere, said they were looking for domestic partners.