It’s incredible to think that next month marks two years since we first reported on how to save small businesses during the Covid pandemic. Time has passed both quickly and slowly in the way it often does during extraordinary times. For many small businesses still standing two years later, it still feels as though celebration may be premature.

You may be asking yourself…”Are we out of the woods, yet?”

We’ll walk you through the current landscape to give you a better sense of the situation as it stands (in February 2022) and look at what you can do during the final push through the fallout of the Covid-19 pandemic.

The “Endemic” Landscape

Many are in the same boat

They say that misery loves company or in other words, it can be reassuring to know that you’re not alone in your struggle. 71% of small business owners reported that Covid-19 negatively impacted revenue.

Inflation and revenue are top concerns

The economy took a hard hit which is reflected in inflation and cost-of-living prices. Q4 2021 saw an increase in concern amongst small business owners regarding the rise in inflation. While fewer small businesses are concerned about revenue, it still remains the number one concern overall.

But it’s not all bad news

On the flip side, Covid-19 safety protocols and regulations are lifting, which is also reflected in consumer habits. Just this week,  Marriot and Hilton informed investors that they anticipate tourism to bounce back at rates not seen before the start of the Covid-19 pandemic.

The Omicron outbreak did not hit as hard as expected. It seems consumers are making up for lost time and cancelled plans. Great news for businesses in hospitality and tourism, and for brick and mortar businesses that rely on passing trade.

Next Steps for Small Business Post Covid

Cautious optimism

While a full blown party isn’t in order, there’s plenty of reason to suggest that the worst is behind us. If your business is still standing, that’s reason enough to celebrate right now.

Now’s a good time to reflect on the good decisions you made that brought you to this point, and consider what you could have done differently to put you in the best possible position for future outbreaks.

While nobody can guarantee there won’t be another serious strand of the virus, for now, there’s already proof that you have what it takes to face uncertainty and act decisively to save your business.

Employee retention

Employee churn was a major concern for employees in 2021. Dubbed “the Great Resignation“, companies struggled to keep mid-weight employees amidst seismic changes in the workplace and increased pressure on workers.

In 2020, 84% of psychologists said they saw an increase in people seeking anxiety treatment since the start of the pandemic. A factor which likely had an effect on people readjusting their work/life balance.

Small businesses can do plenty to ensure satisfaction amongst their employees long before they start looking elsewhere. The first step is keeping a regular pulse on how they are doing. That can be a challenge for remote employees, but with the right systems in place, and a healthy workplace culture, it’s easy to manage.

Plan a long-term digital strategy

While consumers cautiously venture back to life in public, it would be naive to assume that life will ever return fully to pre-pandemic times. As we reported before, the pandemic merely accelerated trends already underway. Namely, the shift to digital.

The Mastercard Economics Institute predicts that around 30% of retail’s shift to digital will likely be permanent.

But small businesses must be careful not to apply the same digital tactics as rival giants such as Amazon. It’s simply not affordable. Instead, small businesses must create bespoke, low-cost digital strategies that can make their budget go further. That’s where we excel.

Contact jdp

Don’t be intimidated by digital behemoths. Small businesses can and are competing online. Whether your a small business looking to make their budget go as far as possible, or your a mid-weight business looking to restrategize and increase revenue, at jdp we’re experts in connecting businesses with their ideal customers through bespoke plans.

Get started by booking your free 15-minute consultation.