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10 Biggest Challenges Small Business Owners Face Right Now

February 20, 2021 9 min learn

Opinions expressed by Entrepreneur contributors are their very own.

There’s not a day that goes by the place we don’t speak in regards to the COVID pandemic. It’s on the information, in our social feeds and it has infiltrated each our private {and professional} worlds. Many companies have shifted workers to a work-from-home routine; altering every part about how the enterprise day works. We’ve moved from in-person to video. We’ve tailored to a number of members of the family making an attempt to be productive, in the identical house, on the similar time and we’ve shifted from brick-and-mortar to a heavier on-line presence. Within the midst of all of it, there have been many success tales. But, the challenges are ever obvious. Many have misplaced income. Many have laid off workers. Many have had challenges with expertise and others have struggled with the restricted assets. Many have closed their doorways, completely. Probably the most impacted? The small enterprise.

The small enterprise, in my view, is what makes America nice. It’s not solely the entrepreneurial spirit that thrives right here, however the potential to make the dream a actuality. What was as soon as a sketch on a serviette or a dialog over dinner can truly turn out to be one thing right here. No concept is just too nice. No ardour is stifled. No want to persevere is frowned upon. We have now the creativeness and the assets to take an concept and make it into one thing particular. However, prior to now yr our favourite outlets have disappeared. Our associates have misplaced what they constructed, from the ground-up, and the hope for the longer term for a lot of has dwindled, and my coronary heart breaks.

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This can be a tough time, and it’s our obligation to assist these, as we will. In that spirit, I’ve requested small enterprise house owners about their largest challenges at the moment. In any case, what plagues one, doubtless plagues many. It’s not an indication of weak point to wrestle on this time. The truth is, it’s admirable to acknowledge that these instances are tough, and we want the ‘village’ to get to the opposite aspect. Have you learnt the right way to assist these small enterprise house owners? Do you’ve assets which you can lend? Do you’ve recommendation to supply? Be the ‘village.’

Problem 1: The Means to Transition to a Digital-First World

Tyler Forte, Proprietor / CEO of Felix Houses says, “Giant corporations have the finances to rapidly make this transition whether or not it means constructing new product options, providing extra versatile cost choices, or ensuring your workforce stays productive whereas working from residence.”

Problem 2: Lack of In-Individual Networking Occasions

John Pinedo, Founder, Freedom Sure Business says, “In-person networking occasions have been a terrific supply of shopper acquisition for us. Zoom networking occasions are simply not the identical for apparent causes. Prospects, native enterprise house owners, merely want face-to-face interactions. ” Moreover, Sophie Bowman, Founder, Convert Your Followers, agreed. “The whole loss of life of networking occasions, that are a lifeline for small enterprise house owners to broaden their model attain to the native goal market” has been an enormous problem.

Problem 3: Ahead-Planning is Tough

Jason Lee, Proprietor, Wholesome Framework said that “COVID is making ahead planning close to not possible. With out realizing how lengthy it’s going to be right here and to what diploma, it’s almost not possible to plan out advertising efforts, gauge staffing wants, or simply know what our clients and purchasers want. ” Reiterating this sentiment, Lainey Morse, Founder / President of Authentic Goat Yoga is in full settlement. “Over the previous 4 years, we’ve expanded to 10 places all around the USA. in March, we needed to shut all places as a result of COVID. The toughest half has been making an attempt to navigate opening again up at every location, solely to be shut down once more as a result of COVID surges. Spending advertising {dollars} on one thing that you just’re undecided goes to occur has been a problem and I’m undecided if I ought to simply shut down and wait it out or if I ought to preserve making an attempt to open again up. Financially, it’s been devastating, and I worry if I wait too lengthy, the viral engine that we’ve created will fade away. ”

Problem 4: Leaving Brick-and-Mortar

Adriane Galea, CEO, Seashore Bum CEO notes that the most important problem is “pivoting enterprise to be utterly on-line. The brick-and-mortar enterprise couldn’t survive COVID, so, I’ve primarily began utterly over with a digital enterprise. However purchasers simply aren’t spending cash the best way they have been six months in the past, and even two months in the past. “

Problem 5: Missing WLB

Arnold Chapman, CEO, ELD Focus notes that work-life-balance has turn out to be tough. “Earlier than the pandemic, we will clock in and clock out, then go away all our work-related issues on the workplace. Nonetheless, now that we’re all working from residence, we’re busy with taking good care of the household whereas engaging in our targets. In consequence, it may be simple for us to get burned out for doing every part on the similar time. “

Problem 6: Elevated Delivery Prices

Yassine Lamari, CEO, Gentleman’s Guru says, “We have now had a rise in the price of our abroad transport costs as a result of COVID’s affect on transport procedures. As well as, some clients have needed to cancel occasions after buying gadgets, and subsequently return charges are up past regular ranges. “

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Problem 7: Missing Creativity

Ryan Scribner, Co-Proprietor, Investing Easy, states, “The primary problem I’m dealing with with my enterprise is sustaining excessive ranges of creativity within the digital work surroundings we’re in at the moment. Up to now, plenty of our greatest concepts got here from group conferences the place all of us would meet and share our ideas. I’ve discovered it’s rather more tough to duplicate this in a web-based surroundings. You merely don’t really feel the identical vitality over a Zoom name as you do in an in-person assembly. ” Echoing this view, Jim Jacobs, CEO / Founding father of Focus Perception stated that their largest problem is “combating Zoom fatigue.”

Problem 8: Blips in Manufacturing

Jessica Hill Howard, Founder / CEO, Sicily Hill states, “A giant problem is the upset in our manufacturing. The parts of our merchandise are produced in a number of factories throughout the USA and Asia. The various state and authorities rules depending on the situation impacts the staffing capacities at our factories; thus, negatively impacting the turnaround instances on our merchandise. A current manufacturing run took roughly 25% longer to finish in comparison with comparable pre-COVID productions. This problem led us to come across important stock shortages as we headed into the busiest time of yr for product demand. ” Equally, Wayne Miguel, COO / Companion, MightySkins said, “Sustaining inventory of essential supplies to proceed day-to-day operations is a serious problem. Because of delays and breaks within the regular provide chain, we’ve skilled longer lead instances on most supplies out of inventory for prolonged intervals from some suppliers. The breakdown within the provide chain has made sustaining the usual more and more tough. “

Problem 9: Stress to Carry out

Malte Scholz, CEO / CO-Founding father of Airfocus states {that a} main problem is the priority over “the exterior strain COVID has placed on everybody. Persons are not simply involved about their jobs anymore, but in addition about their well being. The fixed worry has taken its toll and I’ve seen a drop in efficiency. The most important drawback is that I don’t know the way to reply to this. On one hand, I really feel that I want to deal with the drop in efficiency if the enterprise will undergo. Alternatively, I can’t put extra strain on individuals as a result of I do know they’re doing their finest in the intervening time… ”

Problem 10: Lengthy-Time period vs. Brief-Time period Content material

Michelle Devani, Founding father of lovedevani states, “As somebody who runs a enterprise giving relationship recommendation, I feel the most important problem that this pandemic has introduced upon us is just not realizing how a lot of our content material ought to be evergreen and the way a lot of it ought to be geared in the direction of the pandemic. The issue with the evergreen content material is that individuals may not see it as relatable, and the issue with COVID-themed content material is that it gained’t be relatable as soon as the pandemic is over. So, actually, the paradigm right here is long-term vs. short-term. “

The world is struggling, personally and professionally alike. However, as these worlds collide, the challenges for the small enterprise has been nothing like we’ve seen earlier than. It’s not about taking a terrific concept and placing it into movement. It’s not about constructing a tremendous workforce and watching it flourish. And it’s not about following a dream or taking an opportunity. We’ve misplaced nice companies over the previous yr. Companies that make our nation distinctive. Desires have been misplaced. Whether or not challenged by the transition to digital, the shortage of in-person networking, incapability to handle ahead planning, unexpectedly having to go away the brick-and-mortar enterprise mannequin, lack of work-life-balance, elevated transport prices, the downturn in creativity, the blips in manufacturing, questioning long-term vs. short-term choices, or the strain to carry out… we will all nod in settlement that lately are like no different. The one factor we all know? It takes a village.

Assist your fellow man, buy from the small enterprise proprietor, encourage these you understand to maintain up the struggle, and supply recommendation or help when in a position. Possibly ultimately, it isn’t the concepts that ever made us nice within the first place however reasonably the drive and willpower that made all of it occur. COVID has knocked us down however it should by no means take our perseverance. Be nice.

About the author

Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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