How 2020 Impacted Small Businesses & What to Do In 2021

There’s no denying that 2020 was such a rough year for businesses worldwide, especially small businesses, due to the COVID-19 crisis. While most companies resorted to alternative ways to get by with their daily operations, a few others were forced to shut down entirely. The good thing is that some businesses found means to cope with the situation and managed to survive. In 2021, many of them have already started to get back on their feet, yet there are things you can do to boost your small business this year.


In this article, we will share how 2020 significantly affected small businesses and what you can do to thrive and flourish in 2021.


1. The rising popularity of e-commerce


E-commerce has long been a booming industry, as many entrepreneurs and companies are doing their businesses via digital platforms. However, this has all the more spiked because of the global pandemic. As a result, many companies have opted their employees to work from home, while some brick-and-mortar businesses have decided to use online channels for transactions.


Our e-commerce accountants can help your small business thrive in the digital platform. Our team is composed of highly qualified and experienced accountants. Whether you have a brick-and-mortar store or an e-commerce business, we’ve got you covered!


2. The emergence of social commerce


Apart from using digital platforms for e-commerce businesses such as Amazon and Shopify, others created their own websites. However, one effective channel to do business is social media because these channels are where the target consumers are, whether it is on Facebook, Instagram, or YouTube. What’s great about these channels is how they allow businesses to target their consumers.


We’re a business advisor that assists online stores and influencers in their financial strategies and management. Apart from helping you manage your finances, we can go as far as assisting you in your e-commerce business via social media. If you’re looking for online accountants in Australia, you can always depend on our experts!


3. The use of mobile devices


In today’s modern society, people heavily rely on their mobile devices to surf the Internet and make online purchases. In fact, 50 per cent of Australians shop using their mobile devices. For this reason, you must optimise your online store to cater to these mobile-only customer bases. While you’re at it, you must seek help from an expert accountant who can help you out in your business and kick your business up a notch!


We understand that most consumers today heavily rely on their mobile devices for business transactions. This is why we strive to provide reliable accounting services, such as accounting and compliance, profit increase, goal-setting and monitoring, cash flow forecasting, decision-making support, and accounting software.


Conclusion


There’s no denying that small businesses have had to adjust since the COVID-19 outbreak. As your business has adjusted to the new normal, now is the time to restart your business’s operations and kick it up a notch. You can do so by taking advantage of the rising popularity of e-commerce, the emergence of social commerce, and the use of mobile devices. With all these in place, you can expect your small business to thrive and flourish!


Are you in need of accounting services to kick your business up a notch this year? You’ve come to the right place! Our e-commerce accounting services in Australia endeavour to help entrepreneurs reduce tax and increase profit. Book your free strategy session with one of our specialists today!


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