4 Ways Solopreneurs Can Strengthen Their Businesses

Entrepeneur 07 May 2020 04:30

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4 Ways Solopreneurs Can Strengthen Their Businesses
Image credit: Ankabala | Getty Images

Business is hurting across the globe. Supply chains have been disrupted. People are staying home. Many businesses that rely on traditional sources of revenue are not able to stay open. For solopreneurs, the pain can be even more acute.

Recessions traditionally impact small businesses disproportionately, as we saw in 2008, when they accounted for 45 percent of employment but 62 percent of jobs lost. And it’s even worse for businesses with under 10 employees or young businesses period. Solopreneurs almost always fall into one of these categories and often both. And this current downturn seems to be following a similar trend, with nearly 80 percent of small businesses negatively impacted. Fifty-four percent have dealt with slower sales. No matter your sector, you’re probably going to be dealing with fallout, but there is hope, and there are ways that solopreneurs can still thrive.

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Warby ParkerKajabiConnie ClevelandRand Fishkin
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