The global COVID-19 pandemic has created a very uncertain landscape for millions of British small businesses. In relation to my business it has brought it to a complete standstill, in fact it has put it into reverse with cancellations and refund requests. This is going to make has it very challenging for the business to survive.
Looking into the offerings from the Government to see what help I might be entitled isn't looking very promising. Applying for a CBILS (loan) is proving difficult trying identify the appropriate lender and then wondering how the loan would be repaid. Next are the grants for small businesses and having just about breaking even in my third year then I don't hold out much hope for meeting that funding criteria. Finally I don't have a business premises and won't be entitled to one of those grants.
For three years I have worked many late weekend nights paying off the photo booth equipment all with no pay and no profits. I was just about breaking even before lockdown but with cancellations I'm having to find refunds that I don't have any capital to pay.
I would love to develop the business by expanding the current portfolio and improve online presence. One of my dreams is to renovate a caravan shell and transform it into a caravan booth to hire out for outdoor weddings and events. I would even like to get into festivals with this too. If I could buy a second hand horse box as well and convert that in a similar fashion would be a bonus.
I have many ideas on how to expand and move forward but never the funding to back my imagination.
If I could take on a couple of casual workers in the future too that would be awesome.