What Business Owners Need to Know About the Global Chip Shortage

Aug 2, 2022

For the past couple of years, the tech world has been struggling with a huge shortage of chips.

But it’s not just tech businesses that are feeling the impact.

Many of the things we use every day contain a chip. Laptops and desktops of course. But also, household appliances, even our cars use chips. It’s hard to find an electric device without a chip.

And this shortage has the potential to disrupt our modern lives.

Did you know, it’s been going on since 2020 (that year really was a gift, wasn’t it)?

The chip shortage started during the pandemic while production fell while demand went up

Other events since made the shortage even worse. These include extreme weather, the Ukraine war, and a factory fire.

We’re told that increasing chip production isn’t easy, which is undoubtably true. It can take years to just build a new chip factory because of the unique production demands it takes.

Of course, you don’t have to deal with the all the problems of producing more chip and finding the resources to do so. But to you, the chip shortage can negatively impact your business.

It means you need to plan ahead more.

Some of the technology you need to run your business may be in short supply

As an example, getting large numbers of the same laptop might be difficult, compared to getting just 2 or 3.

And some of the essential devices you rarely think about as they’re in the background, such as network switches, are currently getting much harder to get.

As you push your business towards increased growth it means planning ahead more than ever before.

Industry experts expect the shortage to last into next year… and it could be even longer.

Does your company need any technical support? Would you like us to check your growth plans, so we can advise what technical equipment might need to be ordered? Get in touch with us at Itechra.

Published with permission from Your Tech Updates.

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