Higher Than Me LLC

Small Business Survival Guide: Navigating Tariffs, Lending Tightening, and New SBA Rules

Ta'ib Roberts
Jun 11, 2025By Ta'ib Roberts

Understanding the Impact of Tariffs

For small businesses engaged in international trade, tariffs can be a significant challenge. These taxes on imported goods can increase costs and squeeze profit margins. It's crucial for small business owners to stay informed about current tariff rates and any changes imposed by the government. By understanding how tariffs affect your supply chain and pricing strategy, you can make informed decisions to mitigate their impact.

tariff impact

Tips to Manage Tariff-Related Challenges

To navigate the complexities of tariffs, consider the following strategies:

  • Negotiate with suppliers: Open discussions with suppliers to share the burden of increased costs.
  • Explore alternative markets: Identify new markets where tariffs do not apply.
  • Review your supply chain: Consider sourcing materials from domestic or tariff-exempt suppliers.

Adapting to Lending Tightening

Access to financing is a lifeline for many small businesses. However, when lending conditions tighten, securing loans becomes more challenging. Lenders may impose stricter criteria, requiring higher credit scores and more substantial collateral. This situation demands that small business owners be well-prepared when approaching lenders.

Strategies for Navigating Lending Challenges

Here are some strategies to improve your chances of securing a loan during tight lending periods:

  1. Improve your credit score: Pay bills on time and reduce outstanding debts to boost your creditworthiness.
  2. Present a strong business plan: Clearly outline your business model, revenue streams, and growth projections.
  3. Consider alternative financing options: Explore crowdfunding, peer-to-peer lending, or microloans.
small business loan

Navigating New SBA Rules

The Small Business Administration (SBA) frequently updates its rules and regulations to better serve small businesses. Staying informed about these changes is vital for compliance and taking advantage of new opportunities. Recent rule changes may include adjustments in loan programs, eligibility criteria, and support services.

Maximizing the Benefits of SBA Changes

To benefit from new SBA rules, consider these steps:

  • Regularly check SBA updates: Visit the SBA website or subscribe to newsletters for the latest information.
  • Seek professional advice: Consult with a business advisor or accountant to understand how changes may impact your business.
  • Leverage SBA resources: Utilize available resources such as training programs and mentorship offered by the SBA.
Financial advisor consulting African American man while going through paperwork on a meeting in the office.

Conclusion

Navigating the challenges of tariffs, lending tightening, and new SBA rules requires vigilance and adaptability. By staying informed and proactive, small businesses can not only survive but thrive in this ever-changing landscape. Taking strategic steps to manage these factors will empower your business to remain competitive and resilient in the face of adversity.