DEALING WITH ECONOMIC UNCERTAINTY

Many small businesses are feeling the impact of tariffs and other policy changes. Here's how they're managing.

- by LIZ BRODY

The insanity first hit Jake Shivery this year, after he ordered a supply of camera film from China. He's the owner of Blue Moon Camera and Machine, a shop for classic photography equipment in Portland, Oregon, so it started with a pretty standard order. "The film arrived, and we started selling it," says Shivery. "And then, two weeks later, we got hit with a tariff bill that put us underwater."

As trade policy keeps shifting, he finds himself wondering: Do I buy this product now and load up? Or, with the tariff uncertainty, should I wait? The volatility ties up his cash and inventory until the bill comes. On top of that, he says his latest order from the German camera company Minox came with a surprise tariff of 16%—and he's stuck in a 10-year contract with them.