How the coronavirus is affecting one American business
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Many stores and factories in China have shut down in an attempt to restrict the coronavirus from spreading, and many big businesses are reporting that the virus will affect their profits.
The coronavirus, and subsequent factory closures, could have an even greater impact on smaller businesses.
“We have several hundred employees just in China,” said Anne Harper, CEO and founder of OMG Accessories, which makes fast fashion accessories for kids. Her supply chain starts in China, where her company has a factory that produces products like purses and backpacks.
“I talk to the owner of my factory every single day, just checking in, obviously making sure all the people around him are OK,” Harper said.
They also talk about when her Chinese employees are likely to return to work. She and the owner of the factory anticipate the virus will set production back by at least two months.
Click the audio player above to hear the full story.
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