In April 2020, Northern Development approved a $18,487 Small Business Recovery (SBR) Consulting Rebate to assist 6ix Sigma, a Prince George-based digital media company, with the costs of hiring a professional consultant to empower them to grow and thrive in the face of COVID-19. As a small business specializing in videography and photography for organizations, 6ix Sigma was especially vulnerable to economic impacts of the COVID-19 pandemic because many of their clients view marketing as a discretionary spend, making them less likely to invest in a new video or photography.
The consultant worked closely with 6ix Sigma to support them in three key areas: Coronavirus change management, strategy review and financial planning. Once the 12-month consulting project was complete, 6ix Sigma identified that one of the most valuable aspects of the process was financial planning. Having a professional consultant assess their financial process allowed them to focus on reducing costs, achieving billable targets and accurately projecting their future workload.
“We’re grateful to have received this rebate at a critical time for our business,” said Jason Hamborg, co-founder, 6ix Sigma. “We had been steadily growing since incorporating in 2015 and we knew we needed professional guidance to help us navigate the challenging economic climate. Working with the consultant made an immediate difference for our business and gave us the tools to continue succeeding and telling visual stories for customers in Northern B.C.”
The economic benefits of this project will allow 6ix Sigma to increase their profitability while also adopting cost saving techniques, leading to improved long-term sustainability. They also developed new capacity modeling which helps them better understand where to invest their resources while providing a better understanding of the types of projects that best suite their business. As a result, 6ix Sigma was able to grow their revenues and profitability in 2020 to the beginning of 2021.
Looking ahead, 6ix Sigma’s increased understanding of their operating expenses makes future expansion and ambitious projects more achievable.
Funding for the consulting project came from Northern Development’s SBR Consulting Rebate. As a business in the high-tech industry, 6ix Sigma was eligible for a rebate to reduce the barrier to accessing professional expertise through third-party consulting projects. All projects through the SBR Consulting Rebate must focus on ways to sustain businesses during the current economic downturn.