CoVID-19, it’s effects on local small businesses and how to mitigate your losses

It is a time of uncertainty, and these times have been the most damaging to small businesses. Many people are relying on their side businesses because their full time careers have been deemed non-essential. Nobody understands this better than Mary Meeker, who writes an annual ‘Internet Trends’ report. Ari Levi of CNBC writes,

Mary Meeker presents her annual Internet Trends Report at Code 2018.

‘Mary Meeker, the former tech investment banker who has spent the past decade in venture capital, is out with a new 29-page report on how the coronavirus is shaping economic activity, consumer behavior and technology.

The report, which Axios published on Friday, says businesses that are doing the best in the current crisis use cloud technologies, sell products that are always needed, can easily be found online, make other businesses more efficient and have a good social media presence.

“Many of these offline-to-online trends have been in place for a while,” the report says. “Covid-19 just accelerated them.”

In the world of on-demand services, which has raked in tens of billions of dollars in capital in recent years, fortunes are split. Uber and Lyft are struggling from a plunge in ridership and Airbnb is getting crushed from a drop in travel.

Meanwhile, Instacart and DoorDash, which are in the business of delivering food and groceries “have experienced surging demand and are aggressively bringing on new workers,” the report said. “Net, we believe on-demand and to-the-door delivery services may be gaining permanent market share in these unusual times.”’

So what does this mean for small business owners? Brick and Mortar shops are excellent for potential clients to put their eyes and hands on your products and services. If your business storefront is closed, how are your clients able to reach out? They are using their home computers and their mobile devices to make purchasing decisions. Do not allow yourself to fall behind because of the uncertainty of the internet. Contact us today for a free consultation on your web presence requirements.