There is no doubt that the effects of the horrific start to 2020 have been hitting everyone pretty hard financially. Many people have been left unemployed which has made taking care of general costs like housing and food pretty difficult, especially due to the country’s poor welfare payment system. Because of the personal economic struggles that people are facing, they are less inclined to purchase unnecessary items and so many businesses are starting to feel the toll. Though all businesses are feeling the strain of the economic crisis that the country is currently facing, nobody is suffering more than smaller businesses, and here is why.

 

Government funding

The government has not completely ignored the struggles that businesses have started to face and so have begun to offer grants to businesses to ensure their survival during these difficult times. This may sound like a useful gesture, however, they haven’t been very thoughtful when giving out these grants. They have ironically given these grants to bigger businesses, such as Mcdonalds, that don’t even really need the support right now due to their ability to still offer their services to the public. Smaller businesses already don’t have the influx of cash that a lot of bigger businesses have, so without that government financial aid, they are basically just surviving out of their slowly dwindling savings.

 

No contact procedure

You also have to take into account that a lot of small businesses aren’t just retail businesses, but are businesses that offer a service. However, due to the current social distancing measures that are in place, lots of small businesses that offer a physical service are not able to operate. A good example of a business like this is a hairdresser that needs to make physical contact in order to complete the service.

 

There are also a large number of small businesses that require entry into the home in order to operate. So for example, pest control businesses such as yalepest depend on completing home surveys in order to complete their jobs. However, rules that exclude people from entering households make this a difficult task. Because of this, lots of businesses such as pest control, plumbers and decorators are really taking a hit and are even ending operations indefinitely.

 

Niche Businesses

Most of the businesses that we would consider to be ‘small businesses’ are usually labeled as so due to their niche appeal. These businesses already trade with a smaller amount of people due to their lack of necessity. An example of a business like this would be something a little odder like ‘Organic Home Fragrances’ or other businesses along those lines. Businesses like this are really being hit as their already quite small client list is being damaged by the economic issues that people are facing.

 

However, there has been more social outreach to save businesses that are a little quirkier, in order to maintain the character that they bring to certain communities.

 

Lack of postage opportunities

A lot of bigger businesses have simply decided to move a lot of their product sales online in order to keep their business afloat. This is an excellent idea for those that are able to do this but have however become a major issue for smaller businesses that can’t do so. Because people are trying to avoid leaving the house unnecessarily for safety purposes, the use of online shopping has only increased. Because of this, businesses that don’t operate online are being forgotten about. These businesses are usually the smaller local shops that simply don’t have the finances or resources to do so. These businesses are really struggling and so it may be worth considering giving them a little more support.

 

So, you’re looking for a change of pace. Maybe wanting to venture out into the world of owning your own business. Starting any business on your own is definitely a challenge, but if you’re brave enough to try and you’re willing to put in the work, then you can bet there will be countless rewards. Being your own boss is a massive responsibility but being able to decide your own hours and your own pricing means your only limit is what you want it to be. So, if you’re wanting to start your own business as an electrician but aren’t sure where to begin, we’re here to offer you some advice on making and building your own successful business.

Naturally, if you’re wanting to work as an electrician, you need to be sure you know what you’re doing. There are a number of risks that run alongside electrical work so it’s paramount you understand the ins and outs of the technical aspects of the job. Otherwise, you could be putting yourself and others at risk. The next, most important thing is making sure you have all the best tools you can afford. If this will be your full-time job, it’s probably worth investing in good-quality tools.

Branding

Another important step in creating a successful business is building your brand. One full-proof way to do this is by establishing an online presence. A key tool for any business wanting to establish an online presence is by making a website. It’s important to make sure that your website is well made and looks professional. It’s the mid-way point between you and a potential new client. For inspiration on how to create an engaging website, check out sites already out there for other established Canadian electricians, like Mike Fuller electric. Don’t be worried if you haven’t a lot of creative skills, there are plenty of sites out there designed to build sites for new businesses, with plenty of great templates to choose from.

Nowadays, social media is an invaluable tool for anybody in charge of running their own business. In an age of digital connectivity, it’s important to keep on top of your accounts. For many people, these accounts will be the first interaction they’ll have with your brand so it’s vitally important that you feel your brand is well represented by your social media accounts. You don’t need to do anything extravagant. Just make sure to keep an eye out for any messages you may receive from potential clients.