Is 2021 the time for Start Ups and Small Business Growth?

It’s a good question following a year that no one, not even the best analyst could predict. Many start up’s and small businesses started in January 2020 with a business plan, great ideas and high hopes, for it all to change with many struggling to stay afloat as they tried to survive through a global pandemic.

Many established businesses found themselves in trouble and closed, even high street names like Debenhams closed their doors. What happened next was something no one would have predicted 10 years ago, an online fast-fashion chain, Boohoo, swooped in and acquired not the stores but the department store’s brand assets, e-commerce and website operations, and all own-label products across beauty and fashion. Seen as an indication of just how much things can change in a year and how valuable the e-commerce market has become. It’s thought that Debenhams’ website and branding would also be rebuilt and re-launched on Boohoo’s platforms in the near future, as Boohoo seeks to create the UK’s largest marketplace. 

So things are changing we can all see that but as an entrepreneur is now really a good time to startup? Entrepreneurs usually favour a buoyant economy, that’s flourishing and right now we know that’s not true but flip that, there is less competition which could be a good thing.

More than ever before, consumers are glued to their devices and online consumption is at an all-time high. E-commerce has shot up by  46% since the pandemic started in 2020 with everyone turning to order online. If a business can go online in 2021 then it really should and if it’s online, it’s a good time to grow and reach your target audience.

Staff are key to your businesses success, we have all heard the saying ‘I’m only as good as my team’ and with so many having lost their jobs in the pandemic now is the time to have the pick of the crop and get yourself a strong, talented team who have had plenty of time off are now raring to go. 

There is also money about, many utilised the furlough scheme, bounce back and business grants during the pandemic but now there is a new wave of funding emerging with talk of grants launching in August 2021 that can help startups and small businesses either get going or recover and build.

Customers are out there – it might not feel like they are, especially if you had to close your business and have been wondering what to do next. Start with brand awareness and steadily build up a strong customer base. So many customers have found the usual companies they work with are no longer trading so are looking for companies to engage with and you need to make that you – think about your website, is it fit for purpose? Did you start selling online in 2020 and now need to grow that side of your business?

The opportunities really are out there; it’s a time for bravery and determination as we all step into the new world. 

Pocket Rocket is on hand to help you build your brand, improve your E-commerce and drive sales. Get in touch for a free no-obligation chat with Wendy wendy@thepocketrocket.co.uk