Small business represents nearly 60-percent of South Dakota’s workforce. That means there are a lot of owners and employees worried about putting food on the table right now.
That’s why the University of South Dakota is posting a series of webinars to help businesses keep their doors open even if they’re closed right now.
Up until recently, you could find Sara Jamison in her store Terra Shepherd Boutique & Apothecary. Closing it due to COVID-19 is not how she planned to celebrate her upcoming one year anniversary.
“I’m literally taking each day as it comes. Just trying to roll with it,” Jamison said.
Online sales used to make up less than three-percent of her revenue. Now, it’s all of it.
Brady: Are you doing ok? Are you making payroll right now? How is that treating you?
Jamison: We’re doing ok. It’s literally a day-by-day battle, but my full-time employee is still on payroll and I have applied for the Payroll Protection Program.”
USD’s Beacom School of Business and its outreach centers, the Prairie Family Business Association and the South Dakota Small Business Development Center, are providing a new resource for business owners like Jamison. The free webinars aim to help them navigate this crisis.
“We consider this as our commitment to help the small businesses and the family businesses in the state of South Dakota,” Venky Venkatachala, Dean and Professor of Beacom School of Business, said.
Topics include learning about cash flow management, finding new revenue streams, and how to deal with stress.
Brady: We want to see these stores open again. Is that the overall goal?
Venkatachala: Absolutely. We want them to open again. We want them to be successful.
Jamison says the more resources, the better.
“I think if there’s an option to get more personalized help, that is also tremendously helpful. Just because, each of our businesses are so unique,” Jamison said.
This isn’t how Jamison wanted to celebrate her first year in business, but she’s optimistic Terra Shepherd will make it to year two and beyond.
“I’m doing everything I can and confident we’ll see the other side of this,” Jamison said.