“This crisis is forcing family businesses to make trade-offs among objectives that would have previously been unimaginable — all while dealing with the complex dynamics of a family.”
“Without my employees, I can’t be where I am today,” she said. “I need them. I can’t betray them. In the long run, they will be there for me.”
It is possible for small businesses to come out even stronger, said Scott Shigeoka, an entrepreneurship coach. “There will be small operators like Iwi Fresh that walk away from this time with a more diverse customer base, stronger business model, new partnerships and resilience to future crises or pandemics.”
For a small business trying to stay afloat during the shock of the coronavirus, every little bit of financial aid can have a bearing on their future.
The pain and uncertainty of the impact of the coronavirus on small business owners is staggering and likely to be substantial. Entrepreneurs are being forced to take drastic steps to continue operating and many are fearful about their futures.
Kerry Hannon and host Ted Fox discuss how to think about work at different ages and stages of a career, from people who are just starting out to those 50 and over. The latter were the focus of her 13th book, Never Too Old to Get Rich: The Entrepreneur’s Guide to Starting a Business Mid-Life.
Join Kerry Hannon, author of Never Too Old to Get Rich: The Entrepreneur’s Guide to Starting a Business Mid-Life, to dive into your story and start taking the steps to craft your own business path. Alongside Kerry and MEA Founder, Chip Conley, you will dissect what it takes to rewrite your second act and become an entrepreneur.
Women are starting businesses out of necessity, because they can’t find decent jobs, or are unemployed, according to Amex. Some are launching their own businesses because workforce rules aren’t flexible to adapt to their caregiving duties for aging relatives or children, or they want more power over their working lives.
A co-working space, of course, is appealing for new entrepreneurs of all ages. It’s practical for owners on a tight startup budget who want to surround themselves with other creative small business types. But for those who want a more tranquil setting, the Greenhouse model is a win-win.