April 22, 2025
Boston Business Journal recently published an article featuring Greg Stoller, Master Lecturer of Strategy and Innovation, discussing how the Trump administration’s newly imposed tariffs are expected to hurt small businesses.
Small firms often lack the financial flexibility, purchasing power, and political clout of larger corporations to absorb or work around these increased costs. Large companies like Home Depot, Walmart, and Target, which have direct access to policymakers and the ability to shift supply chains, are better positioned to withstand or even benefit from the disruption. In contrast, small businesses are more vulnerable, facing challenges like sudden inventory shortages, rising costs, and the threat of bankruptcy. Still, despite the mounting pressure, small-business owners are known for their resilience.
“The tariff thing is yet another bump in the road. I am not saying it’s inconsequential but for small-business owners it’s like, ‘take a number and add it to the list of to-do items.’ If you are a good business owner, you deal with it,'” Stoller adds.
Stoller advises small businesses not to panic, to manage inventory carefully, stay connected with their bankers, and maintain strong relationships with customers.