Small Enterprise - September 2020

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Coronavirus is one of the most devastating epidemics the human race has ever witnessed in modern days. The impact of this global pandemic span beyond unemployment and isolation. It has shaken up the global economy. Venturing into this uncharted territory is challenging for all business types. Today millions of startups start their journey every month, hence “losing” customers is much easier today due to this epidemic than ever before. But, if you know your audiences well, and your product and services even better, digital marketing is an amazing mechanism to keep them satisfied with your brand pushing your competition away. Many small businesses are facing a sharp drop in their demand for products or services due to COVID-19’s impact which is visible on international trade, tourism, retail, and transportation. This is alarming as it leaves management to decide where to make cost cuts to avoid getting too many losses. Often, these cuts are in staff, operating hours and capacity, and also marketing. All these strategies and initiatives have changed the way businesses have been functioning. Today due to this epidemic most of the small businesses, nearly 95%, have moved from brick and mortar regimes to online territory.