Making the jump to self-made and adapting to a new Canadian economy

▤ Summary

In a decade that will long be remembered for the pandemic that swept the globe, this five-year expiration date is telling of the mindset of Canadian entrepreneurs, as well as the resilience they’re practicing to overcome the odds. And, she’s in good company with 41% of Canadians surveyed, saying a defining moment in their decision to start a business occurred when they became overcome with a passion for entrepreneurship. Sure, to those on the outside looking in, it might have seemed like I took a big, spontaneous leap but, in reality, it just made sense for me.” For April Brown and Sarah Sklash, co-founders of Ontario-based boutique hotel brand, The June Motel, much of the report data is reflective of their experiences as entrepreneurs as well, “We quit our nine-to-five jobs with the dream of creating a unique hospitality brand that delivers good vibes and high design for visitors,” says Brown. While a full bounceback, both in terms of revenue and confidence, will take time, we’re already seeing businesses like The June Motel adapting their processes and operations for long-term success. Looking ahead, we see small businesses honing their focus on being better prepared for financial instability, clamping down on cash flow, and diversifying their revenue streams.

▦ Linked Companies

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