Copyright © 2020 Federation of Students, University of Waterloo operating as Waterloo Undergraduate Student Association
Supporting our small business owners
As people and sectors face uncertainty, it's important to be doing whatever we can to help one another during the difficult times we face.
Small businesses are large contributors to our community and economy in many ways. Within our community, they provide our students everything from meals to employment opportunities. In the Student Life Centre, these small business owners provide us everything from physiotherapy, dental services, to our grad photos.
In their everyday operations, small business owners are often faced with extremely challenging scenarios and have to make tough business decisions. Amid this global pandemic, they now have added costs and complexities, introducing new sanitation equipment and protocol. As they work to accommodate these new expectations, they're still responsible for the fixed costs that keep their business afloat.
During this crisis, many small business owners have seen their revenue cut by half, while others see none at all if their operations have been deemed non-essential. With small businesses often relying on today's revenue to pay yesterday's expenses, covering their fixed costs with this reduction in revenue can prove difficult. These are unprecedented times for everyone, and as an off-campus small business owner myself, I can say through my own experience, it's tough out there.
With all this considered, it was refreshing to hear that with unanimous consent, WUSA’s leadership and management team have agreed to waive the rent of our tenants within the Student Life Centre for the next 90 days. This rent forgiveness will help ensure our tenants can maintain essential services (like filling prescriptions) and resume our wider variety of services (like banking and dental) when campus resumes regular operations.
At times like this, we can only succeed by working together and helping one another in whatever capacity we can. Support for your small businesses today can help guarantee they're here tomorrow - to feed you, service you, support you and sponsor your events when we all return to campus.
We look forward to seeing you all again soon!