All 50 states have begun reopening to varying degrees and while pictures have emerged of packed bars or lines for restaurants in some municipalities, the large swath of businesses that have been shuttered during the lockdown are not going back to normal soon. Restaurants in most areas are still operating at 25% or 50% capacity and retail shops are similarly limited in how they can resume operations. The majority of these firms are micro businesses with fewer than 10 employees and operate at lower margins than their peers. Their workers’ confidence continues to falter compared to large companies or even larger small businesses, according to the latest data from LinkedIn’s biweekly Workforce Confidence Index — a biweekly measure of how people feel about their job security, financial well-being and career outlook. That pessimism is also reflected when broken down by industry, particularly for workers in real estate and entertainment. One bright spot emerged, however, with workers at small businesses in the consumer goods sector feeling more confident than employees at larger companies in the industry. What are the biggest challenges your company is facing as states reopen? See more #WorkforceConfidenceIndex findings: https://lnkd.in/gKhTf9d ?: Jordyn Dahl ??: Vrushank Nayak
Real Estate investing could be a fertile business
In Colorado we have more small businesses than anywhere else in the United States. We are always the first ones to come out of any financial slump. We are entrepreneurs and fighters and this is a beautiful blue state. All of these things, along with having a governor who works with us, Governor Polis, is a recipe for success! I'm lucky to be a small business owner.
Thanks a lot
I do Business Resources, Merchant services and believe myself to be a solutions expert. I can't find a solution to this issue, because I am looking at misinformation and blatant lies. There has been no support for my young LLC. We are going to have to work together to get through this. The problem is that everyone wants their business to be successful. That means there will be lots of attrition. So, painfully, I say if you are not getting any help or you are at your limitations, apply for a job at one of the companies that actually got support. Devided some will survive, but together fewer of us will fall.
In small businesses, employee confidence very often reflects the confidence level of the owners and/or managers. I have found that in coffee shops where I have leaders who are level-headed about everything that is going on, their team has a high confidence level. In shops where the manager is timid and scared (i.e. not acting like a leader) I have to go in and build the team’s confidence myself MUCH more often. This whole situation is a nightmare for most small businesses owners. Just buckle down and survive if you can. Don’t lie to your team, but give them confidence you have a plan, and they are a part of it. Stress reveals character.
Why do businesses who have a smaller number of connections have a more pessimistic view toward recovery? ? Because of fear, those connections are not connecting. Customers are not coming into the store, meetings are not happening (let's do lunch), thus sales are not happening. Because their customer pool is smaller, even a few who do not connect has a larger impact on the business. ? But what are these businesses really afraid of? Lawsuits? If a small business is sued, the likelihood of that business folding is very high no matter who 'wins'. But if they don’t open and generate revenue, they are going to fold anyway. ? What can we do to reduce fear? Build connections of trust.
We are very fortunate. Those factories that are open have picked up the slack of what the market needs and have had more business than ever. Some of those are current clients. While others have become new clients. Though I feel bad for those who are hurting. But one thing I have learned in business. There is always a way to grow and make money, it just might not be what you are doing now and that means change is necessary and almost inevitable as time moves on.
I work in the #franchise space and interface with hundreds and hundreds of brands. Franchisees are individual small business owners but have the support of the franchise brand. We see such positive attitudes and forward thinking by these entrepreneurs! Companies that will survive & thrive are ones that pivot and adapt their ways to fit the concerns of their customers. The *new normal* will be here for a while so best to embrace it and pivot. #franchisestrong
Whether you think you can, or you think you can’t–you’re right. H Ford
G. KGJ Fence
4 年Its because you can not find construction workers worse now there all on unployment making double what they were making ..sickening get job done