Actions

Starting a business during a pandemic: what to know

BUSINESS.jpg
Posted at 5:31 PM, Aug 10, 2020
and last updated 2020-08-11 08:14:42-04

COLORADO — It seems like a big risk during an uncertain time- starting a business. As jobs can be hard to come by, some people are deciding to take the leap and become entrepreneurs.

Which is something Aikta Marcoulier with the Pikes Peak Small Business Development Center (SBDC) says is part of the reason her center is staying so busy.

"We see so much devastation right now during the pandemic," Marcoulier said, "we know businesses are closing, we know there's a lot of commercial real estate opening up, at the same time our start-up track has had so many people in it."

Pikes Peak SBDC works with small business owners and aspiring entrepreneurs get on track. With people getting laid off or furloughed from their jobs with no end in sight- it's becoming more common for some to turn to their passions to start making money.

However, Marcoulier says there's a lot to keep in mind if you're going to be taking the risk.

"There's always going to be a risk, there's no free money out there for any business owner," Marcouolier said. During the beginning stages of the business, it's important to look at the financial realities when applying for financial aid.

Marcoulier adds that friends and family are a good place to start.

"If you're smart enough and motivated enough and have the right plan in place, you're going to get family and friends to support you really that networking and support structure is very important," Marcoulier said.

There are also many other considerations aside from financial risk when starting a business. With COVID-19, restrictions are still underway for many sectors. This is something Marcoulier is recommending people keep in mind.

"Can you run a business when you can only allow 10 people in at a time, when you really need 50 people in at a time at any given moment to make that mark that you need at the end of the day to produce the financials to move you forward," Marcoulier said.

For those looking for resources to begin their business, Pikes Peak SBDC has many resources and also points aspiring entrepreneurs to other resources locally to get started. For more information visit the following link: Pikes Peak SBDC.