#11 How to make £££'s from Rockets, Micro-plastics are causing starvation & The S&P500, what it means for small businesses
This week, we’re covering a mix of innovation, environmental challenges and market shifts that could have significant implications for businesses. First, we’ll explore how Relativity Space , under new leadership from former Google CEO Eric Schmidt , is pushing the boundaries of space technology and how small businesses can tap into the supply chains of these billion-dollar companies. Then, we dive into a startling study on microplastics and their impact on global food security, emphasising why businesses should prioritise sustainability from day one. Finally, we take a look at the recent S&P 500 correction and how it could affect small businesses.
Making Millions from Rockets: From 3D Printing to Supply Chains
While small businesses may not be launching rockets into space like Relativity Space, the growing trend of 3D-printed technology in industries like aerospace offers an exciting opportunity. With Eric Schmidt’s new role as CEO of Relativity Space, the company is pushing the envelope on cutting-edge technology with 3D printing playing a significant role in creating their rockets. This innovation could provide a roadmap for small businesses looking to tap into high-tech, billion-dollar industries by becoming key suppliers.
For many small businesses, the idea of competing with large players like SpaceX or Blue Origin may seem daunting, but you don’t need to aim for the stars to see success. By focusing on a niche like 3D printing, small businesses can carve out a space in the supply chain for major companies in industries such as aerospace, automotive and healthcare. This could involve providing 3D-printed parts, materials or services to these massive players, many of which are actively seeking innovative and cost-effective solutions.
While small businesses might not have the resources to build rockets, entering the supply chain of larger companies can be highly profitable. As 3D printing and other advanced technologies continue to evolve, the demand for specialised components is growing and small businesses that can provide high-quality, innovative parts and services stand to benefit. The key is identifying these niche opportunities and positioning your business as a reliable, forward-thinking partner.
You may not make a billion-dollar company, but with the right niche and strategy, you could easily build a million-dollar business by becoming a trusted supplier to these high-growth industries. The future is here, and it’s all about tapping into new technologies and finding the right partners to scale with. So, take inspiration from Relativity Space’s journey and explore the ways your business could support next-gen industries.
The Alarming Impact of Microplastics on Our Food – and What Your Business Can Do Now
Microplastics are no longer just a distant environmental concern, they’re already threatening global food supplies. A recent study revealed that microplastics are reducing the photosynthesis ability of plants by around 12%. This could increase the number of people at risk of starvation by 400 million in just the next two decades.
As alarming as these figures are, this crisis offers an important lesson for businesses: reducing plastic waste from day one is essential. By embracing sustainability early in your business, you can make a difference - not only for the environment but also for your bottom line.
At Tooth Be Told, we’re committed to being 100% plastic-free. From our products to our mailers (which are compostable at home), we’ve eliminated plastics at every step. It’s not just about doing the right thing for the planet it’s about setting your business apart and appealing to consumers who increasingly value sustainability.
For small businesses, this could be your competitive edge. Start by scrutinising your product packaging, supply chain and shipping methods. Eliminate plastics wherever possible and make eco-friendly choices your customers can feel good about. Every step, no matter how small, counts in the fight against plastic pollution and the long-term sustainability of our planet.
How the S&P 500 Correction Could Impact Small Businesses
The recent correction in the S&P 500 has sent shockwaves through the market, and while the effects are typically felt most acutely by large corporations, small businesses are not immune to the ripple effects. Here’s how the downturn might impact your small business:
1) Cost of Borrowing As the markets decline, interest rates tend to rise, making borrowing more expensive. For small businesses that rely on loans or credit lines to fund growth, higher interest rates can lead to increased operational costs. This could make it harder to secure the financing needed for new projects, expansion or inventory procurement.
2) Consumer Confidence When markets take a dip, consumer confidence often follows. People become more cautious with their spending and may cut back on non-essential purchases. Small businesses, especially those in discretionary sectors, might notice a decline in demand as customers hold off on making big-ticket purchases or luxuries until the economy stabilises.
3) Supply Chain Disruptions The wider economic uncertainty resulting from market fluctuations can also exacerbate supply chain issues. Small businesses that rely on global suppliers could face higher prices, inventory shortages, or delays in receiving products. This adds pressure to already tight margins, making it crucial to find more cost-effective and reliable supply chain solutions.
4) Changes in Customer Behavior Market corrections often lead to more price-sensitive consumers. As people tighten their belts, they become more focused on value for money. For small businesses, this could mean rethinking pricing strategies, offering promotions or shifting focus to highlight the long-term value of their products or services.
Recommended by LinkedIn
The recent S&P 500 correction has the potential to impact small businesses in several ways. From increased borrowing costs and potential disruptions in consumer spending to supply chain issues and changing customer behaviours, small business owners will need to adapt quickly.
By staying mindful of these shifts, businesses can adjust their strategies - whether it's by offering more value-driven products, exploring alternative suppliers or rethinking financial plans to weather the storm and continue thriving in uncertain times.
If you enjoyed this newsletter and want to keep the conversation going, subscribe to stay updated on all things sustainability and eCommerce. If you think your connections would find this content valuable, please share it with them. And if you found this information helpful, don’t forget to like this post!
Lastly, if you’re not already following me on LinkedIn, make sure to hit that follow button so we can stay connected and continue sharing insights.
Sources
Any opinions referenced in this newsletter (unless otherwise stated) are my own, and do not represent any views, opinions or statements from Acquired.com.