Entrepreneur Tool Kit
Staff Contributed – The Entrepreneurship Department
Opportunities during the COVID-19 Crisis
The impact of COVID-19 cannot be overlooked. Businesses and entire industries have been affected tremendously. Many of us cannot wait for life and our businesses to go back to normal yet we also wonder whether the normal as we knew it will ever be back. Our team put together a few tips on maximizing your time now and preparing for business post-pandemic.
opportunity to spend time with loved ones who live with you. For many entrepreneurs, this can be one of the most difficult areas to control especially if you must travel frequently for your business. Enjoy this opportunity. It can also be a time to show your family a bit more of what you do daily. This can go a long way when it comes to understanding one another’s needs
Better work-life Balance
Flexibility of hours Another benefit of the situation brought on by COVID-19 is the ability to be more flexible with your workday. Individuals may be able to start their day earlier or extend their day later. This can be beneficial with children at home. You can adjust your working time to align with the time your children could use your attention. As clients adopt this work style as well there may be more room for flexibility in your service delivery.
Time with kids & loved ones One of the first and most obvious benefits of the unprecedented times of COVID-19 is the increased
FLEXIBLE FINANCING
Less commuting time There are significant studies that compare commute times, job satisfaction and overall wellbeing. In summary, the studies show that shorter commute times lead to overall more positive results for wellbeing. With many businesses and organizations working from home, we may be able to see a clear impact on people’s overall wellbeing. Time to reflect and review business practices As COVID-19 disrupts current businesses, there is an opportunity to reflect on your business model, including service delivery. Many businesses took a traditional approach to these elements and because they were generally successful, there was not much thought put into improving their models, for example implementation of new delivery methods. COVID-19 has forced many businesses to leverage technology and other tools to remain relevant. Now is our opportunity to continue reviewing and improving our models, where appropriate, into the recovery phase and beyond.
In this time of uncertainty, trust your local CBDC for financing, training and advice. Lending decisions made locally by volunteer business people.
To find your nearest CBDC visit www.cbdc.ca or call 1-888-303-2232
The Atlantic Canada Opportunities Agency is pleased to provide financial support to the CBDCs in Atlantic Canada.
BLACK to BUSINESS
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Summer 2020
