Tips for pivoting your business during Covid-19
It’s now over a year since Coronavirus was first identified in the UK. This time last year, we still had no idea of the impact the pandemic would have on our lives - from socialising and travelling, to the way we work and the impact on businesses.
Unsurprisingly, research from Small Business Britain found two thirds (66%) of small businesses have seen their revenues drop as a result of the pandemic. Many industries – such as travel and hospitality - were forced to halt completely, while others, such as fashion, were impacted by a sudden drop in demand. Others adapted to the unprecedented situation by offering their goods and services in new and Covid-secure ways, for example contact-free home delivery or taking their business online.
Almost half of small businesses (44%) got through the first lockdown by pivoting and adding new revenue streams. If you’ve adapted your business during lockdown and are looking for more ways to innovate and succeed in these unprecedented times, these business survival strategies will help.