Business Development Canada’s Small Business Week (SBW) is going completely virtual this year with exclusive events taking place this week, highlighting the resilience and innovation of entrepreneurs in the face of today’s unprecedented challenges.
In a recent survey, BDC found out that 63% of entrepreneurs cite innovation and creativity as necessary to survive the current situation.
“The coronavirus pandemic has caused one of the most important economic disruptions in history,” said Michael Denham, president and CEO of BDC. “It has also transformed the business environment, bringing new trends or accelerating them. This year, for BDC Small Business Week, we’ve decided to focus on the benefits of adapting to these new consumer and work trends in order to build for the future.
Mary Ng, federal minister of small business, export promotion and international trade, added that every day, “Canadian small business owners continue to face down this pandemic and demonstrate their grit, hard work, and incredible resilience.
“To them, I want to say thank you for everything you do. As we continue to work towards a sustainable and resilient economic recovery, know that we are with you every step of the way.”
Meanwhile, the new BDC study has found that Canadian entrepreneurs are shifting priorities and taking advantage of new trends brought on by the COVID-19 pandemic.
Top solutions include putting finances in order, given the intensity of the economic contraction, and taking advantage of technology to stay competitive. The pandemic has also changed Canadians’ habits such as the will to pay more for local products or purchase more online.
BDC’s study is based on literature published since the pandemic began in March, as well as interviews with academic, consulting and marketing research experts. The data presented were derived from two surveys conducted by BDC among 1,000 Canadian SME leaders and 2,000 consumers in May and June of 2020.
SBW is an annual “celebration of entrepreneurship” now in its 41st edition. Every year, close to 10,000 business owners take advantage of the many opportunities to learn, network and celebrate the people who build businesses across the country, the BDC said in a release.
For the first time, participants this week can join any of BDC’s events from any location with an Internet connection.
For more information visit bdc.ca/sbw