SMBs and Tariffs: Industry Reactions

SMBs and Tariffs: Industry Reactions

A recent Bredin survey of 500 U.S. SMB principals shows that tariffs are hitting industries in very different ways. In our previous report, we looked at how the impact varies by company size. This time, we examined how different sectors are feeling the effects.

Retail/wholesale and professional services firms are the most concerned, with 57% saying tariffs will hurt their business. That compares to 45% of manufacturers and 42% of personal services firms.

Will tariffs hurt SMBs?

Across all industries, more than half of SMBs say tariffs will push up their operating costs—and for manufacturers, that figure jumps to nearly three out of four.

Will tariffs increase SMB operating costs?

The impact goes beyond higher costs: many SMBs expect tariffs to lead to layoffs. About a third of personal services firms anticipate cutting staff, along with 28% of professional services, 25% of retail/wholesale, and 20% of manufacturers.

Will tariffs cause SMB layoffs?

And most SMBs don’t think these changes will be temporary. Two-thirds of personal services firms, 60% of retail/wholesale, 55% of professional services, and 54% of manufacturers believe tariffs will bring lasting change to their industry.

Will tariffs lead to long-term industry changes?

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