How small- to medium-sized enterprises can protect themselves from tariff disruptions

Tariffs impact everyday consumers, but one area where tariffs are having an astronomical effect is international trade. Small to medium-sized enterprises are discovering overnight that tariff implications can disrupt their supply chains.

But the best offence is a good defence. That’s where Peacock Tariff Consulting comes in.

With over 20 years of experience in global trade, they provide expert guidance for small to medium enterprises with respect to tariffs, compliance and global trade strategy.

Kyle Peacock is the founder of Peacock Tariff Consulting and says that tariffs don’t have to be scary for enterprises, but there is a lot of fear of the unknown and some herd mentality regarding the constantly shifting markets.

“It’s gone from a very long-lead industry to a very short, reactionary industry,” Peacock said. “A lot of the players are not nimble and that’s one of the things we can provide, being boutique. We can be creative and provide options that others that red tape heavy providers can’t do.

“What our niche is, is small to medium-sized enterprises that need expertise in trade compliance and support with global supply chain.”

What’s the most common question about tariffs?

The number one question Peacock gets from his clients is whether their portfolio is compliant, which is paramount in today’s economy. A non-compliant portfolio can lead to seizure of products at the border, which could put a company at a complete standstill.

While the Canadian government is providing tariff support to bigger industries like steel and canola, support for smaller manufacturers who have been impacted by tariffs tends to fall through the cracks.

“About four years ago, I realized there’s a significant market for small to medium-sized businesses for trade consulting,” Peacock said. “What we do is provide a full suite of services in the supply chain.

“Anything from logistics, sourcing, new markets, all the way through to tariff evaluation — identifying that your current portfolio is compliant, as well as what other opportunities and optimization we can provide through tariffs and the supply chain.”

While larger enterprises can weather the storm when these tariffs shift seemingly overnight, mid-market enterprises absorb those costs up front, which also affects their cash flow. These increases affect these smaller companies at the time of entry, instead of downstream in the supply chain.

How enterprises can adapt to new tariff rules

With things changing so rapidly, business and enterprise owners may be inclined to pull the parachute on some of their international trade partners, but Peacock suggests to his clients that sometimes the best solution is the easiest solution.

Diversifying and microsourcing are two ways small and medium-sized enterprises can protect themselves from global disruptions by over-leveraging themselves into one market.

“Everyone needs to slow down and not every company is the same. You have to evaluate your own unit and your own basis and that’s what we do with the customized approach.

“We’re not trying to sell you this big suite. You may already be in the best situation; it may only be renegotiating with your current supplier.”

Helping your enterprise move forward in this new reality

Because these changes are coming from the top-down, they can make smaller players feel powerless when new tariff rules and regulations come into place. But after a tariff and commodity review, compliance guidance or assistance with strategic trade planning, Peacock Tariff Consulting can help their clients move forward in this brave new world.

“Once they realize what they can do to adjust, it’s like seeing 15 pounds off of them immediately,” Peacock said. “They can still have a business and still put their kids through college. Tariffs are going to affect them, but it doesn’t have to affect everything.”

Speak to Peacock Tariff Consulting and get that weight lifted off your shoulders when it comes to tariff compliance, strategy and optimization. With their expertise, learn to navigate international trade with ease.

Learn more at PeacockTariffConsulting.com.