Finding new revenue models amidst the pandemic
We were challenged to create a digital solution that aimed to help combat issues being faced by frontline workers, businesses and/or everyday Canadians as a result of COVID-19. We focused on the challenges brought onto small businesses during the pandemic and wanted to create a way to provide much needed cash donations to businesses and through a creation of a platform, that would incentivize donations while providing a sustainable business model that would maintain as well as scale operations well into the future.
Small businesses are integral to the Canadian economy and for enriching local communities
98% of businesses are small businesses. They employ many Canadians, provide opportunities for newcomers to Canada, and many are owned by women.
The future is more uncertain for small businesses
This economic slowdown has forced small businesses to close and furlough their workers. Insecurity about the future is at the top of people's minds.
We interviewed 7 small business owners and self-employed individuals who were directly affected by the pandemic. Many of the insights we received ws that uncertainty was causing great strain on businesses. That without some sort of direct stimulus, businesses would have a hard time surviving in the current reality.
At the same time from the consumer end, if there was a way they could directly help businesses, they would pay a premium with a service knowing that a majority of the proceeds would directly go to the businesses they support, especially more independent mom & pop stores.
For many individuals, the pandemic brought a sense of reevaluating and acting on things they've longed thought about. Making a difference for others included.
Using this data, we created a business platform that would scale as the initiative grows. The ultimate goal we wanted to achieve based on feedback would be to provide a method for businesses to receive stimulus right away and ensure especially smaller stores could continue to stay open, without the extra burden of excessive platform costs.