COVID-19 Impact on Small Businesses

As a result of COVID-19, technology is being pushed to its limits, industries are redefining their service and brands are amplifying secondary attributes to appeal to the current sentiment of the consumer.

Small business owners across the globe are simply trying to keep their doors open. This means maintaining payroll, employee benefits, general expenses and trying to decipher the government relief options available to them while trying to evolve their well-established or new business model to maintain relevance in these uncertain times. It is no easy feat but most entrepreneurs did not start their businesses thinking it would be easy.

Just ask any of the 27 small business owners in Hampton Roads R&A has interviewed over the past three years as a part of our Business Spotlight program. Choosing the path of becoming an entrepreneur has its set of challenges even under ‘normal’ circumstances. In this blog, we are shedding light on obstacles Spotlight business owners highlighted during our sit-down conversations as a reminder of their fortitude and to encourage the small business community to keep fighting.

To our Business Spotlight owners, valued clients and entrepreneurs across our network, we lift you up during these times and want you to know we believe in you. May you focus your intention and recall your why — letting that be a guiding light through these times of uncertainty.

Brighter days are ahead of us and together we will find our way.

With love and respect,

Ashley + Team Teal

Leesa – The biggest obstacle has been the competitive nature of the business. “We are driven by a desire to make a difference and to inspire others to make a difference too but there are always hurdles and bumps in the road.” – David Wolfe

The Stockpot – “The restaurant business has a large turnover rate, and it can be tough to find great employees. When we do, we hold on to them as long as possible.” – Patrick Edwards

Lorak Jewelry – “Whether it is living out the juggling act of being a new mom and entrepreneur, wearing all the different hats of her business or simply dedicating the time and energy she puts into each collection to maintain its quality and uniqueness.” – Anna Lorich Akers

The Beach Nut The biggest obstacle Mariah has experienced in starting and running The Beach Nut is time. Discovering new products and keeping the store stocked takes time and dedication, and it’s paramount to the store’s success. – Mariah Standing

GLOW ApothecarySarah expresses her biggest obstacle has been purchasing some of her favorite brands for her store. “It can be hard to obtain certain products that you truly love. [The brands] are going after the bigger corporate businesses.” – Sarah Creech

Wandering PetalNicole’s biggest challenge has been dealing with a potential client’s budget and sticking to those brand standards for value and expertise. – Nicole Turkenkopf

Jars of Dust The studio’s renovation process was her biggest obstacle. “Leading up to [opening the shop], I was cautious and playing things safe. I signed the lease, and in order to get the building to a functioning shop, it was going to require time and money. Locking myself into this trajectory was my biggest obstacle.” – Mallorie Terranova

Bobo’s Fine ChickenNaturally, the biggest obstacle was overcoming all the red tape with city regulations and construction challenges. “I’m just glad that’s behind us,” he says with a smile of relief. – Bo Midgett

Farmhouse Brewing Co. – “With a project like this, there are hundreds of decisions you have to make and you are trying to get it all done by the opening date.” He continues, “It was stressful for both of us.” – Josh Canada

Bay Local Eatery “It’s both scary and rewarding,” Whitney continues, “if we fail, we fail the roughly 75 people that rely on us for their livelihood. We take that very seriously.” – Whitney Colprete

Do you have a favorite local business you would like to see featured as our next Business Spotlight? Submit a nomination via a quick form here!

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