COVID-19: 4 Trends in Start-ups and Small & Medium Business.

Rising up to the challenge

COVID-19 has brought the world to a complete standstill. Social distancing and lockdowns have resulted in a lot of businesses scrambling for strategies to sustain themselves. This has proven to be worse for start-ups and SMBs ( small & medium businesses ) that are struggling to keep their doors open. 

However, necessity is the mother of invention and many start-ups and SMBs have either adapted or are quickly adapting to survive the ill-effects brought upon by COVID-19. Here are 4 emerging trends that are aimed at reducing the risks faced by start-ups and SMBs:

1. Shift to Ecommerce

Implementing digital tools and software to transform operations and reduce expenses while providing exceptional customer service. 

2. Automation

Planning efficient strategies and contingencies for business processes to deal with future workplace restrictions.

3. Digital Communication

Maintaining healthy relationships with key stakeholders and employees by establishing a clear line of communication and promoting engagement.

4. Remote Working

Promoting work from home and remote offices. Businesses are actively transforming their traditional workplaces to digital workplaces by using online digital tools from various providers like Salesforce, Freshworks and Atlassian to remain operational during a crisis. 

Do you agree with these evolving trends in start-ups and SMBs? What digital tools and softwares have you used to optimise your operations during this crisis?

Our strategy team at Soar360 are constantly planning for new ways to emerge from a crisis such as this. If you’re in need of a little guidance, contact us today.