Private sector small businesses contribute over 40% of Canada’s GDP, making small businesses too big to fail. As a member of the small business community, my cofounder Joana and I take great pride in seeing the personal impact Lane Four has had with employees and customers. Small businesses are not only the most important sector of the economy, they’re the most personal.
Lane Four has been growing very quickly and has been insulated from the devastating impacts that so many small business have faced. I personally understand the idea of balancing sales, cash flow and making payroll. Several years ago this kept me up at night, and on occasion gave me minor panic attacks. This has left me feeling deeply sorry for my fellow entrepreneurs who, despite making no mistakes, have seen growing business go to zero in just days. The personal toll this has on people is real.
Businesses with strong growth, who remain profitable and have cash reserves need to give back. Otherwise there won’t be an economy to come back to when the world reopens for business.
I see a lot of support for small businesses being discussed, but this doesn’t help pay rent or get people paid. The issue is so big it needs a governmental response. Fortunately, the government has announced programs that will help, but these programs will be limited, some won’t qualify, and others may not be around when the cheques finally arrive.
We’ve started reaching out to people who run small businesses to see if there’s anything we can do to help. If you run a small business that was healthy and growing only to have been devastated by the pandemic, please let us know.
We’re open to ideas on how we can help fellow entrepreneurs get through the next 3 months. From placing an order, making a small investment, or just being a sounding board for challenges, we’re here to help where possible.
Email me at email@example.com and let’s chat.
Andrew Sinclair, Founder, Lane Four