A Critical Situation: Dragon’s Den Star Arlene Dickinson on the Struggle of Small Business to Survive the Second Lockdown
The second lockdown in Ontario has left a ‘mind-blowing’ third of businesses questioning their ability to survive. As a seasoned entrepreneur and Dragon’s Den star, Arlene Dickinson shares her concerns with Financial Post’s Larysa Harapyn about the impact on small business and what needs to be done to improve their odds.
The Reality of Small Business in Ontario
Arlene Dickinson emphasizes that the situation is critical for small businesses in Ontario. "It’s a very tough time, and I think we need to acknowledge that," she says. "We have a third of our businesses that are not expected to survive this lockdown, which is just mind-blowing."
Dickinson notes that the impact of the lockdown extends beyond just the immediate economic consequences. "It’s not just about keeping the lights on; it’s about how we’re going to help these businesses survive and thrive post-pandemic," she explains.
The Role of Government Support
While Dickinson acknowledges the importance of government support, she believes that more needs to be done to address the challenges facing small businesses. "I think we need to have a conversation with the government about what kind of support they can provide," she says. "We need to think about how we’re going to help these businesses adapt and thrive in this new environment."
Dickinson suggests that the government could offer more financial assistance, such as grants or loans, to help small businesses cover their costs during the lockdown. She also emphasizes the importance of providing support for small business owners themselves, including mental health resources and networking opportunities.
Community Support
In addition to government support, Dickinson believes that community support is crucial in helping small businesses survive the lockdown. "We need to think about how we can support these businesses in their communities," she explains. "This means thinking about how we can encourage customers to shop local, support local events, and celebrate our small business owners."
Dickinson notes that this kind of support can have a significant impact on the survival rate of small businesses. "When we come together as a community to support these businesses, it sends a message that we care about them and want to see them succeed," she says.
The Future of Small Business
As Dickinson looks ahead to the post-pandemic era, she is optimistic about the potential for small businesses to thrive. "I think this pandemic has been an opportunity for us to rethink how we do business and prioritize what’s truly important," she explains.
Dickinson believes that small businesses have a unique advantage in adapting to changing circumstances. "They’re agile, they’re nimble, and they’re able to pivot quickly," she says. "If we can provide them with the right support and resources, I think they’ll be able to not only survive but thrive."
Recommendations for Small Business Owners
Dickinson offers several recommendations for small business owners who are struggling to survive the lockdown:
- Diversify your revenue streams: Consider offering online products or services to supplement your physical sales.
- Adapt to new technologies: Invest in digital tools and platforms that can help you reach customers more efficiently.
- Focus on customer experience: Prioritize providing excellent service and building strong relationships with your customers.
- Seek out support from government and community programs: Take advantage of resources such as grants, loans, and networking opportunities to help you stay afloat.
Conclusion
The second lockdown in Ontario has left small businesses facing a critical situation. However, with the right support and resources, they can not only survive but thrive. By working together – between government, communities, and small business owners themselves – we can create an environment that fosters innovation, adaptability, and resilience.
As Dickinson notes, "This pandemic has been an opportunity for us to rethink how we do business and prioritize what’s truly important." Let us seize this moment to build a brighter future for our small businesses and the communities they serve.
