Dangers Facing Business in Northern B.C

Service Description

Recently our team completed research on how COVID-19 had affected businesses internationally, nationally and locally. Based on their findings, we produced our own executive briefing titled “5 Dangers Affecting Businesses in Northern B.C, Post COVID-19”. What we’ve discovered is quite interesting. In each instance, we start our briefings by asking business leaders what they think the biggest dangers are. While each response is slightly different, the overwhelming majority of business leaders we work with expressed that the economy poses the biggest threat to their business. When we dive a little deeper however, the reasons they provided stem from a number of sources. For some, its the risk of further slowdowns from another wave of COVID-19 or, maybe, another nastier pandemic. Others worried about the long-term effect of government spending on taxation. A few pointed to the increased debt that they are now carrying and expressed their worry of how a slowdown in the economy could have significant long term effects on their business. The good news is that there are many businesses in the north that are doing well. Regional economic expansion, stemming from pipeline construction and mining exploration, not only helped cushion the blow from COVID for some businesses, it also helped a few – a few of our clients have shared that they are having the best year ever, even after serious sales contractions in March and April. We believe that the 5 Dangers Facing Businesses in Northern BC are: 1. The Economy 2. Changes in the Workforce 3. Increased Competition 4. Profitability Challenges 5. Lack of Planning If you think that you and your team could benefit from this executive briefing and recommendations on how to overcome these dangers, please click here to book a time for this 35 minute presentation.

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