The Pandemic Pivot

The word ‘pivot’ has taken on a new meaning during the COVID-19 pandemic and it’s being used ubiquitously in relation to how businesses, social services, and pretty much all household and personal routines have had to change to survive. In many cases, businesses that pivoted into a different or new direction have even been thriving.

The Ontario Chamber of Commerce just released a report on the economic impact of COVID-19 on small and medium-sized enterprises (SMEs). I encourage you to at least browse the report of you own or work in an SME (do you pronounce it ‘es-em-ee’ or ‘smee’?), or if you’re just interested in how the economy is weathering this pandemic.

While there are few surprises here (most businesses are experiencing negative impacts as a result fo COVID-19), there are a few interesting points that I took away:

• Almost 90% of people in Canada’s private sector are employed by SMEs

• On page 7, there’s a nice list of things Ontarians can do to support SMEs (we’ve been ordering takeout at least once a week since March and have discovered some excellent new restaurants)

• There are some fascinating stats on First Nations businesses, like Indigenous people are creating businesses at NINE times the rate of non-Indigenous Canadians

• As for pivoting, there are 15 pages of ‘Difference Makers,’ SMEs who pivoted their operations to stay operational and active in the community. Guelph made the list with Danby Products who pivoted from fridges and freezer to ventilators--that’s not just pivoting, that’s pure innovation at its finest.

Here’s the full link to the report: https://occ.ca/wp-content/uploads/SME-Report-June22.pdf

Let me know what stood out for you.