It’s not news that the coronavirus pandemic affected the automotive industry, causing car dealers to struggle to keep a full inventory of new cars on the lot. This shortage of new cars drove up the price of used cars and motivated more consumers to choose a used car over new when purchasing a vehicle. This may seem like a boon for auto repair shops that make revenue on repairing used vehicles, but the opposite is true. Now, auto body shops are feeling the supply shortage pinch as well, as aftermarket industries bend under parts and labor shortages.
The news is full of disasters in recent years. From the ongoing pandemic to natural disasters like floods, fires, and hurricanes, not to mention the threat of data breaches are affecting small businesses across the nation.