SMBs Opting For Digital And Technology Driven Approaches
                     SMBs Opting For Digital And Technology 
Driven Approaches
Jenny Knight
Writes for 
Small and Medium Business Corner & 
SMB Corner
Small and medium-sized businesses (SMB) make the world’s 90% global 
companies and speak volumes when adding to the workforce. 
Unfortunately, due to the pandemic, the global economy has been shaken, 
and SMBs are suffering the maximum. Therefore, to survive this damage 
more than 2000 small and medium businesses moved to digital technology. 
However, most of the companies are still recovering from the blow.
Another noteworthy change is the transformation of the brand during the 
pandemic. More than 75% of Americans are switching brands that 
phenomenally had influenced brand loyalty. SMB manufacturing impact of 
covid 19 goes beyond brand – a mix of economic, climate change, health, 
racial injustice, absence of leadership, and spread of fake news are also the 
factors.
Let’s explore the significant changes that came into the picture after covid 
19 hit the world.
Short- and long-term effects of a pandemic on SMBs
• SMB’s focus shifts to customer safety and sanitation that comply with the 
public health guidelines.
• Supply chain and innovation to match the dynamic market requirements 
are hugely under the impact of the pandemic.
• SMB’s are concentrating on real-time customer experience and overall 
relationships with the end-users.
• One of the biggest challenges is getting new customers to turn into long-
term relationships.
• Another huge constraint is the lack of turnover and access to capital. 
There is a shortage of cash while doing business, but the pandemic made it 
worse.
• SMB’s manufacturing also struggled to hire the right talent and manage 
the suitable technology to run the business successfully. Not only this, 
retention and motivation of current employees also became tough.
• Digitally forward SMBs are flourishing even during low market conditions. 
More than 72% of SMB leaders believe business acceleration is possible 
through digitalization initiatives.
• Many small businesses are shifting focus to CRM (Customer Relationship 
Management) investments as it has proven higher business potential than 
other tools.
• All the future policies are dynamic, keeping any short- or long-term 
changes in the future. Moreover, the company leaders are more prepared 
for the next normal with enhanced digital platforms and technological 
advancements.
Some positives
The pandemic has significantly affected the revenue in small and medium 
businesses. More than 55% of SMB owners are struggling to stay afloat and 
are considering shutting the business. On the contrary, several companies 
are optimistic that by the end of the year, there shall be an improvement in 
the market conditions that include sectors like – healthcare, technology, 
consumer products, hospitality, travel, and retail are few to mention.
We can only hope for a meaningful change through the process of 
reinvention. Even though the pandemic has brought about operational and 
monetary challenges, businesses are striving hard to address the varied 
needs of their consumers, suppliers, and people. Therefore, amid the crisis, 
the steps towards reinventing and reopening indicate a positive outlook on 
the part of the small businesses that will positively impact their overall 
recovery strategies. Afterall, there will always be challenges and we need to 
stay positive and that’s what will make the difference.
About SMB-Corner
SMB Corner (Small and Medium Business Corner) website serves SMB 
owners in providing information which is insightful, useful and actionable. 
One can find info about SMBs in various sectors like health, science, 
shopping, society, finance, technology and many others. Site provides 
honest opinions, tips and issues related to small and medium-sized 
businesses. The information provided on smb-corner.com not only covers 
business angles of SMB owners but also helps them with tips in their 
regular day-to-day lives and guide them in the right direction.
Thank you for time in reading this article!