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BizReport : Advertising archives : June 03, 2019

Reports: SMBs focused on tariffs, look to Facebook to engage

New data out from BizBuySell indicates a growing number of small business owners are worried about how President Trump's Chinese tariffs will impact their business - and that most believe the tariffs could end their business.

by Kristina Knight

Researchers polled small businesses and found that about 20% believe their business can't survive if the tariffs on Chinese goods lasts more than a year, and nearly half (42%) say the tariffs will increase their business costs. To combat the tariffs, just over half (64%) say they will have to increase their prices to remain in business.

About two-thirds say they've considered switching suppliers outside of the United States. More data from BizBuySell can be accessed here.

Meanwhile, a new CNBC survey finds that despite data scandals and changes within Facebook, many small businesses are keeping their social media spend firmly within the social giant's realm. the The CNBC/SurveyMonkey Small Business Survey found that about one-quarter of small businesses are advertising on Facebook.

The spend comes despite rumors that the social network might face a $5 billion fine from the FTC going back to the Cambridge Analytics scandal, on-going privacy issues, and greater government scrutiny. In fact, about half of SMBs answering CNBC's survey said more regulation of Facebook and their use of data wouldn't hinder their ad spending.

In April Facebook's CEO announced new tools for small businesses and hinted that payments could be an important part of Facebook's business offerings moving forward.

Tags: advertising, BizBuySell, Chinese tariffs, CNBC, ecommerce, Small Business, small business trends, SMB trends

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