“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.
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.
“If it’s something you’re passionate about, find a way to start testing it and doing it, even if it’s on a really small scale,” Ms. Miller said.
POSTED BY ANDY LEVINE Kerry Hannon is an absolute rock star in the world of career transitions and personal finance. She has written 12 books in this area as well as literally hundreds of articles for The New York Times, Forbes, Money, USA Today, US News and World Report and AARP. She is a sought- after […]
There is so much to do. I am not sure how many people will really be willing to put in that kind of time and effort. It is nut by nut for me, and I spend several hours a day baking them myself — while listening to opera, of course. You can’t ignore the importance of doing your research. Is there a void in the market? Is your pricing right? You have to keep on tweaking and tweaking. It has to become a part of you.
Kerry Hannon provides action steps, insights, and resources from her new book, Never Too Old to Get Rich: Starting a Business at Mid-Life. She will discuss the rewards and challenges for those starting businesses from their passion and hobbies to senior-junior partnerships to start-ups by social entrepreneurs and women-led ventures.