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

Digital marketing monopolizes more of the total promotional budget than ever before, and social media in particular is seen as the most impactful and influential platform for building a brand and connecting with customers.

Fortunately, remote workers can be productive. With flexible scheduling, it can boost productivity and job happiness for many.

Remote working and flexibility must be used to attract and retain employee

The government has stepped in to keep small businesses afloat in various ways, e.g ERTC

The employee retention tax credit (ERTC) encouraged firms to keep workers until the pandemic's peak in 2020.

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.

Diverse funding options are more appealing in a less stable era

The pandemic has forced small businesses to make technological advances, with automation becoming the solution to many of their biggest problems.

Automation is central to accelerating growth and sustaining momentum

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