As people have been spending more time at home thinking about their future at work, opportunities are growing every second. Small business owners and franchisees have taken this time to combat challenges they have faced in their businesses and even change up their business plans. With the CARES Acts, many businesses were offered assistance to help them stay on their feet while business was down. As places began to open back up they have done very well to flatten the curve and not let the pandemic win. Although people may be hesitant to open up a business right now, this could be the perfect opportunity. Here are some of the reasons why entrepreneurs should continue to grow their businesses or even start new ones.
A Fresh Start
If you were let go from a job that wasn’t fulfilling and rewarding then maybe it’s time for a fresh start. Take this time to reevaluate your career and what path you want to take. Being unemployed is no fun so why not become your boss and start up your own business. This creates a better sense of job security while you work just as hard as you have before but for a rewarding career. Fulfilling your vision can help you find light in your life.
Access to Funding
There are plenty of ways to get low-interest rates and access to capital funding at this time. The Small Business Administration is a great place to look into if you’re searching for high capital amounts with long term interest rates. If you’re considering a franchise business, there are funding opportunities that are specific to you. In the new year real estate is also expecting a drop in prices which could help out anyone looking for a place to start their business.
With the pandemic leaving more than 15.2 million people without a job, there’s a very large pool of potential employees to help your business. Just like entrepreneurs, workers have also been thinking about their future career paths. This is a great opportunity to recruit a team of people who are familiar with your type of business and some that want to learn the ins and outs. As an entrepreneur during these tough times make it a point to welcome staff and assure them that you can help them get on the right track of self-sufficiency.