The Entrepreneurs Dilemma

Imagine having an idea for your business that you know can make a profit down the road, but being denied funding by banks and other financial institutions is the big set back from achieving that idea. Leaving you scratching your head thinking, “why me?”

Whether it's funding for startup costs, expansion plans, or operational expenses, access to capital is the lifeblood of entrepreneurial ventures. However, for many aspiring entrepreneurs, the reality of obtaining funding can be far from straightforward, with banks often serving as the gatekeepers, their denials can have profound consequences.

The Pandemic, The Hustle

The COVID-19 pandemic was an unprecedented and rough time for everybody. For entrepreneurs, the financial hardships of the pandemic were particularly acute, as they grappled with plummeting revenues, evaporating cash flow, mounting expenses and a huge shift in mindset on how people spend their money.

Entrepreneurs faced a myriad of obstacles that threatened the very survival of their businesses. Lockdowns and social distancing measures forced many businesses to shutter their doors temporarily, leading to a sharp decline in sales and cash flow. Due to the government’s safety measures, a vast majority of entrepreneurs had their hands tied behind their back trying to make a go of things.

Despite the cards being stacked against them to operate and the financial hardships they faced, entrepreneurs demonstrated remarkable resilience and adaptability in navigating the economic challenges of COVID-19.