It’s impossible to predict what may motivate someone to finally act on a dream. But it seems this bizarre year has had an impact on a lot of entrepreneurs in a good way.
Sure, the world has been a topsy-turvy place since early March when a lot of businesses were forced to close their doors to the coronavirus outbreak. And it’s been one of the most difficult years for many small business owners.
However, if you’re searching for a silver lining from all this, it’s this. Perhaps motivated by the fact that we don’t know what the future holds, many entrepreneurs believe there’s no time like the present to act on their ambition to start a new business.
A recent survey from the banking platform Azlo reveals that the pandemic has motivated a whopping 96% of new business owners to get started on their dream of starting their business.
Check out our story from this week for more details on what’s motivating these new small business owners: The Pandemic is Motivating 96% of New Entrepreneurs in 2020
And for the rest of this week’s news headlines for small business owners, check out our weekly roundup below:
Small Business News Roundup – September 4, 2020
A significant number of in-office employees (63%) say they experience COVID-19 related stress according to Paychex. The survey highlights the impact the pandemic has on the mental health of the American workforce. Remote workers however feel less stressed about COVID with only 35% affected by stress.
Some 75% of customers say they are unlikely to post content with a branded hashtag from a company, according to Visual Objects. This comes at the heels of businesses are ramping their marketing efforts to get customers to come back and start buying. A key strategy that businesses are seeking to renew and strengthen attachments is through user-generated content.
Wealth management firm Rebalance recently announced the launch of a new 401(k) product called Better K, which offers a personalized approach to retirement planning for small business owners and employees.
Fiverr, the online marketplace for freelance services, has introduced a new feature named “The Shift”. The new innovative feature is a talent matching service and resource hub. It is designed to help small businesses achieve an effective digital transformation and enhance their online presence.
Applications for new businesses have seen an increase across the nation for the second straight month according to LendingTree. Nationwide, the number of business applications rose 84.3% in July 2020, compared to the same period last year. Louisiana is among the states that have seen a dramatic rise in business applications.
One of the most important organizations that has always helped small businesses is SCORE with its 300 chapters and over 10,000 volunteers. They are there to offer help when entrepreneurs want it. Now during the pandemic, their free assistance is needed more than ever.
The COVID-19 pandemic has made it more necessary than ever for businesses to embrace technology. Tons of companies have found success or stayed afloat thanks to their ability to pivot to online business models.
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