This week, we’re going to talk about small business, and we’re going to talk about it from two sides: the nation-wide trends on how entrepreneurs are trying to survive the pandemic, and a unique local example from a small business owner who has loudly and publicly asked for more help as we’re entering this important recovery phase of the crisis. How’s business? It’s complicated.
If you’re an entrepreneur running your own small business, and especially if that business depends on the regular traffic into a bricks and mortar storefront, these are very tough times. Three quarters of all small businesses in Canada have been forced to carry some kind of debt because of COVID-19, and according to the Canadian Federation of Independent Business (CFIB), that debt now sits at $117 billion altogether. How are small businesses going to overcome this and other challenges?
We’re going to get help answering that from two people this week. First, we will focus on the big picture with Ryan Mallough, the Ontario Director of Provincial Affairs for the CFIB. Mallough will talk about the worst case scenario for small business, the potential for a “second wave” of business closures in the fall as certain government measures expire, and the best ways that small businesses can overcome COVID challenges, especially in the digital realm.
After that, we will hear from Ryan Brooks, who is the CEO and founder of Ctrl V, a virtual reality arcade with nearly 20 different locations across North America. Brooks will talk about why he sent out an email to Ctrl V customers about getting more Federal and Provincial government action to support small businesses, and what those governments have done so far that’s been both helpful and unhelpful. Brooks will also talk about the effects of the pandemic on his own small business, and what factors will make or break some of the various Ctrl V franchises.
So let’s talk about the challenges of small business, and the possible solutions, on this week’s Guelph Politicast!
To learn more about the Canadian Federation of Independent Business click here, and to learn more about Ctrl V click here. To read the email that Ryan Brooks sent out to customers to rally support for small businesses from the government, click here.
Also, when you subscribe to the Guelph Politicast channel and you will also get an episode of Open Sources Guelph every Monday, and an episode of End Credits every Friday.