New research conducted by the Society for Human Resource Management revealed that small businesses are looking forward to the future amidst the disruption caused by COVID-19. Here are some lessons that small business owners learned from today’s unprecedented situations.
Moreover, 75% of the small businesses said that they are prepared when a pandemic will occur again in the future. Small businesses were constrained due to havoc of COVID-19. Thus, most of them innovated new products and discovered the opportunity for delivery services.
Respectively, 42% of small business owners pivoted their business models to survive this crisis. COVID-19 challenges taught them to meet the increasing demand for health-conscious consumers. Plus, they also learned how to promote their products and services through a digital platform.
One of the lessons that small business owners learned from COVID-19 is to provide a flexible work arrangement to their workers. Accordingly, 43% of the owners realized to offer a compressed-work schedule and 31% learned to allow employees to work remotely.
“Small businesses are in a unique position because often they’re able to be more flexible with workers than larger businesses. They don’t have the same kind of issues,” Liz Supinski, SHRM’S director of research products, says.
More so, business owners do not only experience to innovate but they were able to upskill with the available time they obtained to support the change of their businesses.
“Opportunity out of adversity,” Supinski said.
Business owners and workers can explore new ways to do their operations and careers.
Interestingly, business owners became optimistic because they were able to pivot their business successfully with the help of their local community.