How Has Covid Changed the Small Business Landscape?

There’s no question that the pandemic brought about seismic changes across society, and that the true ramifications of this crisis will take generations to appreciate and unpick.

That said, we are already at a point where it’s possible to review the state of play for businesses and determine how things are different for them today than they were prior to 2020.

Digital marketing is more important than ever Prior to the pandemic, there was the sense that smaller firms could afford to stick with traditional marketing tactics to a greater degree than their larger counterparts. 

Even for organizations that only operate within a small geographic area, digital marketing is crucial. People who’ve been through quarantines and lockdowns spend more time staring at their phones, especially if they’re aged 35 or under. This means that they aren’t as likely to catch TV ads, see billboards or encounter marketing in print media.

Remote working and flexibility must be used to attract and retain employees Now that team members have got a taste for it, there’s no way for businesses to put this particular genie back in the bottle. And so to get new hires onboard, and keep current employees happy, offering remote working is something small businesses have to do. 

The government has stepped in to keep small businesses afloat in various ways, e.g ERTC Another unprecedented aspect of COVID-19 is that it saw politicians step up and extend vast amounts of financial support to companies across the spectrum, from startups to multinationals.

Diverse funding options are more appealing in a less stable era Government support can only go so far, and another thing that small businesses have been forced to get to grips with is the myriad other ways to fund their growth which are available right now.

Automation is central to accelerating growth and sustaining momentum The technological leaps necessitated by the pandemic continue apace for small businesses, with automation rising to prominence as the solution to a number of core conundrums facing up and coming companies.

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