While the whole economy faces unprecedented challenges, helping small business pull-through is the solution to a sound economy. To survive and then thrive does not stop merely switching to a new way of dealing with customers.
Here are a few ways your business could be part of the change and weather the storm.
Relief programs
Since the pandemic, businesses are in great need of relief. It can be financial or better terms for remitting taxes, paying the rents or loans to the creditors. The Canadian government can intervene to streamline relief programs and thus helping small businesses. Some measures the government has taken refer to Canada Emergency Business Account (CEBA) and the Business Credit Availability Program (BCAP).
They help business owners retrofit facilities for social distancing and pay back the loans with less interest. Others are related to offering appropriate funds for those going back on payroll or short periods of tax breaks. They would aim at helping small businesses by boosting local shopping and tourism. Check out how your business can take part in these programs.
Helping small business to reopen safely
Invest in a safe reopening while building strategic global alliances. Provincial governments have started creating region-wide programs tackling various aspects – financial, payroll, taxes, personal protective equipment, work skills, and mentorship opportunities – to help employers reopen their businesses safely. Moreover, it will support focusing on trade that boosts exports to countries willing to import Canadian goods.
There intends to create a “Brand Canada” platform for small firms in the globalization context. It takes place while benefiting from connections between knowledge-based industries and Canadians across the planet. Take a look at what your businesses can do to take part in the platform.
Engaging communication
Make your communication clear, unique, and attractive. When you communicate clearly, your conversation language is simple, easy, and gives privilege to your audience. Expose facts, avoid doubts and unreliable information in your blogs or articles. Your unique conversation style will bring your online business the desired exposure.
Support to scale the business
Take part in economic strategies to sustain scale. Governments and large enterprises looking to invest in leveraging Canadian supply chains will boost small business growth. Primarily they will coordinate supply services to create the procurement chains, focusing on preferred small business vendors. These vendors are sourcing personal protective equipment, health care, tracking technologies.
Helping small business build operations on digital
Unquestionably, your business will need tools specific to grow in the post-pandemic economy. Moreover, the formation of strategic alliances between your company and others is crucial. It gives you the edge to compete in the global economy on the international digital platform. Helping small business to employ a digital strategy could include the following in your robust recovery plan:
- participation to the virtual Main Streets created at the level of municipalities, regions and nation-wide
- support from the government for high-speed Internet to every Canadian and business in the long run
- financial support – forgivable or partially forgivable loans or tax credits – to help companies to invest in software and hardware to enable digital growth
Getting to know what vehicles to apply to rebound your own business is critical. How involved your business will be in profitably reshaping it depends on your acknowledgement of change, connections, and unfolding expansion.
By helping small businesses, the entire economy gains. If you need a hand to create digital operations or tweak your current ones, contact us to assist you thoroughly.