Our list of Small Business 2022 trends is aimed at helping small business figure out their “new normal”. Only now are small business owners beginning to recover from the pandemic ordeal we’ve all been through. During the past two years, with change as the only constant, they have proven their determination and resilience. So as the Covid storm dust seems to be settling, we can start to assess how business has reshaped.
“Only 63% of businesses continued to be profitable during COVID”. (Guidant Financial)
As we can sense around us, most small businesses have struggled during the COVID-19 pandemic. And Guidant Financial’s research confirms it. Around 41% companies state that they have experienced negative effects in their operations since the pandemic. And only 63% report being profitable in 2020. On the other hand, 23% of companies in the study reports having lost revenue.
To the resilient who survived, and to those who didn’t but will start again, here’s the small business 2022 trends to watch.
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Networking. One of the most important small business 2022 trends is our realizing that we’re not alone in this. Small businesses have to make the best use of networking by benefiting from shared experiences among other owners. This is necessary not just for comparing notes, but also as a support group.
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Managing inventories. Supply chain shortages are not going away anytime soon. So, while the pandemic-induced supply crisis lasts, small business will to continue having to make adjustments. So, practices such as planning inventories or activating diverse sourcing of raw materials are staying with us for now.
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Focus on online revenue, via ecommerce. As we all know, ecommerce growth since the pandemic started, has already reached levels previously expected for 2024. This trend will continue, so even businesses with physical stores are planning to focus on online revenue for 2022. So, in order to accomplish it Shopify research says, 49% of businesses plan to invest in improving their online stores.
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Prioritize Customer Experience. Now more than ever, this is a do or die requisite for small business to stay competitive. Customers’ expectations are growing, and becoming more specific, and they’ll only do business where they find what they’re looking for. Customer Experience expert Shep Hyken says 75% of U.S. consumers are more likely to be loyal to brands with personalized experiences.
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Agile service delivery. This is an acquired habit during the pandemic that has now become part of the “new normal”. As consumers reacquainted themselves with the convenience of online orders, they expect quality delivery options. So, this is a key requisite for a positive customer experience and therefore for staying competitive.
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Well-defined Online presence and Digital marketing strategies. These imply a well-rounded mix of tactics for business and personal branding. Digital marketing is here to stay and small business need it for brand building. It takes optimizing resources like influencer marketing, social media engagement, tools like Google My Business, and use of video.
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Emotional intelligence and empathy are no longer a nice to have luxury, but a means to look out for work environment and even workforce stability through employee retention and successful recruitment efforts. It’s key to show genuine interest for everyone’s wellbeing and mental health, perhaps doubling up on employee coaching and mentoring.
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Hybrid workplaces. This is the new life-work balance from the 90s and 2000s. Employees will need to find their optimal combination of flexible hours, remote work and in-presence routines.
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Digital transformation has now become one more cost of entry for small business. In fact, technological and cloud-based resources are behind most of the trends listed above. Thus, at this point digital transformation is a basic operation requirement for survival and competitiveness.
Most of these small business 2022 trends were already on the horizon prior to the pandemic, but have accelerated since. We at Estafeta USA continue to find ways of making these and other business trends work for our clients. We look forward to hearing your thoughts, so we can better assist you reach your 2022 logistics goals. We’re here for you!
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