Corporate Lay-Offs - What does this mean for Small Businesses?

Corporate layoffs in America are here and thousands more will soon be out of work. Reports on major platforms set the stage for what’s to come for the country's force. Amazon, Walmart, Apple and even McDonald’s are shaking off thousands of corporate office employees in preparation for economic downfall. Some believe companies will rely more on automation or new tech while others believe they are preparing to replace positions with more overseas help. Regardless of their reasoning how can you leverage the layoff if you've been affected, and how can small businesses take advantage of this time? 

What corporate employees do to leverage the layoffs?

If your company is experiencing mass layoffs this is the time for you to pivot. Apply for unemployment benefits or any side hustle app (i.e Upwork, Fiverr, Doordash, Instacart, Shipt etc) and use this time to develop your personal brand.

Personal branding can help you land your next best paying job or give you the leg up to creating your own business. This is more than just updating your resume but more of a personal strategy to better revenue streams. Recommended: Read Full Article on Personal Branding

Credit: Heather Blankenship | @heatherblanenshipx3

How Small Businesses Can Benefit from Mass Corporate Lay-Offs

In a recent Instagram Post, Heather Blankenship, Investment Guru, shares her recommendations for small businesses during this time. She quoted saying

“There’s going to be tons of new people in the talent pool to hire from, and this may be the perfect opportunity for small business owners to really find great talent.”

If you’re bogged down with day to day business tasks, it’s time to hire. Start your search with job websites like Linkedin and Indeed, or create a posting on other sites like Upwork. It can also be valuable to ask other businesses owners in your network for recommendations on service providers like virtual assistants, social media managers, and customer service representatives. This can elevate a lot of stress on your company, while giving you the time you need to grow your business. 

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