The economy has undergone many drastic changes over the years. If you’re a millennial, change and chaos have been commonplace.

The Great Recession hit in the late aughts, reducing wealth. About ten years later, the pandemic occurred, causing many to stay at home and others to risk their health at work. Inflation deepened during President Joe Biden’s time in office. President Trump enacted tariffs. And now, the U.S. and Israel are at war with Iran. 

It’s hard to gauge all the consequences of this latest shock, but it’s a continuation of one thing: uncertainty. 

Rising gas prices and supply chain disruptions are now among the challenges small businesses must navigate. It might be why over half of small businesses owners in Michigan say they’re making operational changes to prepare for a recession, according to a recent survey. 

Which small businesses are hit hardest by the war in Iran and its disruptions? And, what could make them more resilient in the face of chaos?

Mark Lee is the president and CEO of The Lee Group, where he consults with small businesses across Southeast Michigan. He spoke with The Metro‘s Robyn Vincent.

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