A small business in a niche market will always be a competitive proposition and an energy thief of the owner: you need grit, determination and strong self-belief (as well as belief in your product) to make a go of it. Ask anyone who is currently running a small business.
While the effects of COVID on businesses are being documented seemingly moment-by-moment, what is becoming apparent is that the pressures faced by small businesses are twice as difficult as those confronting larger businesses. Declining revenue, decreased capital spending on the business, increased operating costs and anticipated decreased consumer confidence resulting in lowered demand for many products or services have all been cited as challenges for small businesses.
A niche business in our community, Carbone Master Tailors, shares some insights which many small businesses are currently facing.
Challenges
Kellie Carbone has co-owned and worked at Carbone's for decades and reports that many retailers face immense challenges these days. Online shopping has affected industries, forcing the small operator to do likewise. Not a bad thing in essence but very difficult when you are providing bespoke tailoring services which require fitting and measurement. "In general, men don’t like 'going shopping' so we need to build a relationship with the customer and provide a personal service. This is also how we retain customers and benefit from their repeat business with us."
Why Support your local Small Business?
Kellie is a member of a number of business networks. "I feel it is important to engage with like-minded people and to make connections on the business side. It’s a chance to be social while still meeting people who may require Carbone’s services, and even though women tend to be in the minority at these events, I always feel welcome."
