Regardless of size, location, or funding, business up and down the country has faced a whole new set of challenges presented by the Covid pandemic. Cashflow issues, downsizing, lack of knowledge on funding options and issues with furloughed payroll are just a few of the issues our clients have come to us with. We are here to provide you with assistance an education on all aspects of your business. Do not let the last few months dictate the next few years of your business.
Challenge no.1 – To Adapt to the Ongoing Crisis, SMEs Are Turning to Internet Tools
During the pandemic, we have seen a lot of businesses be forced to emerge online or strengthen their online presence in order to continue business during lockdown. We have seen social platforms and website hosts adapt their services to cater to this new online way of living.
Facebook recently revealed their new ‘Facebook Shops’, an e-commerce feature that will allow small businesses to build online stores both on Facebook and Instagram. A fantastic way of tying your social accounts and sales together in one place!
Mark Zuckerberg – owner of Facebook – said “We’re seeing a lot of businesses that never had online presences get online for the first time, and we’re seeing small businesses that had an online presence now make them their primary way of doing business,” he said.
Despite outside opening back up, for many small businesses, the internet remains a lifeline, helping them to stay afloat.
Interestingly, businesses led by women are more likely to be using digital tools, particularly with online advertising 43% and digital payment tools 40% compared to just 37% and 34%, respectively, of businesses led by men.
We have seen a lot of small businesses find creative ways to succeed during COVID-19, from expanding into new markets to finding new ways to deliver their products and services. At the same time, a number of large technology companies like Facebook and Google are creating new ways for small businesses to connect with their customers.
Whilst these new channels, might not necessarily make up for all of the lost business, they can definitely help. For a lot of businesses, this has been the deciding factor between them staying afloat or going under. What fate do you choose for your business?
If you need any assistance with content, social media or marketing, get in contact with our team to ensure that you are taking the right steps for your business. Whether you’re just starting out online or need help with the next step to take your online presence further, we have you covered.
Challenge no.2 – Balancing Running A Business & Caring For Their Households
One of the biggest challenges for small business owners has been balancing work with home life. Are you working from home or constantly living at work?
According to data, 10% of owners and managers of open businesses reported taking care of household members (children, elderly, dependent adults etc.) as their chief concern. Nearly half (47%) of those reported feeling burned out trying to take care of business and household at the same time. And 29% were concerned about bringing COVID-19 home. Does this sound familiar?
It’s become very obvious that the needs of businesses are deeply entwined with the obligations of the people who run them. Seeing the collapse of divisions between work and home life, make it so important to keep in mind how these stresses are impacting people’s mental health. At Nordens, we’ve introduced several new initiatives in an effort to help combat the challenges that COVID-19 brings. From mental health assistance to quiz nights on zoom calls, small efforts are made each day to lighten the load. We’ve also spent a lot of time refreshing our working from home best practices, so being away from the office doesn’t feel so isolating. Have a look at some of our tips here.
If you have any queries on how your company can best adapt to the challenges Covid has presented, contact us on 02085300720 or email businessdevelopment@nordens.co.uk
