Why Should Small And Medium Enterprises Use Pandemic As Business Opportunity?

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Enterprises Use Pandemic As Business Opportunity

Covid-19 has made the last few months very difficult for everyone in the world. From students to people who lost their jobs to businesses, everyone is facing some difficulty. Talking about business, SMEs or Small and Medium-sized Enterprises have suffered both financially and operationally. When people are only willing to spend their money on essential services, SMEs can make this as an opportunity to grow their business.

You can wait around for a situation to get normal, which can definitely take many months or even a year or use this pandemic as a means to grow. These changes don’t have to be paramount that make you worry about investing more money. The following tips will help you to use little opportunities for your business to take:

Social Media for marketing

We know that Digital Marketing has led to a boom in the industry. Search Engine Optimisation, Social Media Marketing, Search Engine Marketing, and other digital marketing aspects have proved to be a cost-effective and reliable technique where you can easily track your progress and make changes from time to time.

Thanks to the super-fast internet speed and smartphone, we are using digital media 24 X 7. Social media platforms are our go-to timepass and connect with other people. Also, how well we are connected to internet browsers that make it easy for us to browse anything that we need to know about within seconds. Not to forget about the ability to shop anything with the help of mobile applications and e-commerce platforms.

Make your presence online and make the most of it by targeting your audience. Use AdSense and Social Media ads to let people know that you exist. Use some exciting schemes to attract more audience.

Increase in Online Services

As most of us are working from home since the start of the pandemic, it leads us to do everything in our homes. It has become scary to even step out of the house to shop nearby for essential items. Covid-19 has essentially changed the habits of an individual. As per a study, 18% of women are shopping more than they used to more this pandemic and the same is for men whose number has increased to 24%. This is a massive boost in e-commerce sales. For every little thing, from groceries to clothes to electronic devices, everything is available online.

If your business contains selling of products, use more of different e-commerce sites to get noticed. You can also use the benefit of paid search in the e-commerce sites for a keyword you want to target.

Government schemes to save the business

The UK Government offers many schemes to save both economy and businesses in these trying times. One such is the Bounce Back Loan Scheme which financially helps small and medium-sized enterprises. You can borrow a loan of 2000 to 50000 pounds. You don’t have to pay the monthly instalments for the first 12 months. After 12 months, the interest will be 2.5%.

One of the schemes that a restaurant can use is Eat Out to Help Out where customers who come there to eat will have to pay 50% of their bill, and the government will claim the rest.

If you are thinking of restarting your business and somehow not eligible for government schemes, then you can reach out to online lenders to get a loan. With minimum hassle, you can earn money within 24 hours time frame. You have to be a UK resident, over 18 years of age and have a business that has been trading fully for less than 2 years. Loans, payday loans, easy loans, doorstep loans and loans for unemployed and on benefits are readily available. You can get between 1000 to 25000 pounds as a start-up loan with no early repayment fees.

Target local customers

I know this is an old technique in marketing, but it helps. Spreading out words around your functional area helps in growing your business. You can place an ad in a local newspaper or reach to your potential customers through SMS marketing. Have you heard about Google My Business? Register your business by signing up for free and letting people around you get to know about your business whenever they search for a product or service. These listings will help you to get noticed even more.

This pandemic has taken a toll on the financial and business sector. While we were first fighting with this deadly virus, now one of the major problems in front of us is an economic downfall. Small and medium-sized companies have been affected, forcing them to close their business permanently. Well, it is not time to sit back. 

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