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As an essential service involved in the importation and distribution of personal protective equipment (PPE) and other disposables for foodservice, janitorial/sanitation, and healthcare industries, we have been significantly impacted by COVID-19. Our sales of disposable woodenware, which normally account for over 60% of revenue, have declined due to the negative impact on the restaurant industry. However, sales of PPE have skyrocketed, and we are on track to double last year’s revenues. While positive in the near-term, this shift creates longer-term risks. 80% of our revenues now depend on a few key products, and current market conditions are not sustainable. Looking ahead, we need to begin planning for the eventual cool-down of the PPE market, and the possibility that our woodenware sales will not recover to pre-COVID levels. It is crucial for us to explore new opportunities to diversify our business and position ourselves for sustainable growth in a post-COVID world. A Mitacs Business Strategy Intern will spearhead this effort by conducting research and analysis to identify new opportunities in adjacent markets or products that complement and leverage our existing business model. The intern’s work will help shape our long-term growth strategy and address key business risks.
Robert Helsley
Icon Global Supply
Business
Wholesale trade
The University of British Columbia
Business Strategy Internship
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