A whopping 75% of US based small businesses had to change in 2021 due to the drastic business climate in the US.
Forget business as usual, but small businesses like yours took this opportunity to recalibrate and find new solutions.
46% Relied more on digital technology to stay competitive and do business
35% Started selling online or expanded their online presence to boost sales6
35% Reduced fixed costs to stay profitable
650,000 businesses got some kind of financial assistance due to covid.
So what’s the move for 2022?
The biggest problem with covid effecting the economy is it’s all new. We just don’t know what to expect.
1. The stock market is unstable and rumors of a sell-off are always circulating.
2. Real Estate prices and sales have started to reverse.
3. The fed is raising rates and not buying homes anymore.
4. A lot of people are still hesitant to do normal things because of getting sick.
5. Politics are dividing people now more than ever.
Even with these complicated factors, business looks good in 2022. The economy is flooded with lots of money and people are looking for new ways to make money and stay home. They also want a better home life because they’ll be there more. We suggest selling online and finding ways to provide for new trends and for god’s sake, put yourself out there so some of that new money will flow your way!