Challenges and Opportunities for SMEs in the Changing Global Economy
Over the past several years, the number of disruptions affecting global trade have only seemed to multiply. On the political front, the US-China rivalry was already creating issues even before the Russian invasion of Ukraine occurred. The COVID-19 pandemic only exacerbated issues driving cycles of demand and supply out of sync, and cutting many small businesses off from suppliers, let alone markets. And the impacts of climate changes are being increasingly felt as well. At the same time, many of these major disruptions are also creating opportunities for SMEs, especially ones who both understand where trade trends are moving, and what kinds of new opportunities are available even amidst these disruptions. This talk will focus on how factors such as regionalization of supply chains, moves into renewables, and increased demand for specialty goods and manufacturing can provide opportunities to SMEs even amidst the challenges.