Frank Swiger Ohio Believes We Could See These Small Business Trends in 2021HERMOSA BEACH, CA, UNITED STATES , January 18, 2021 /EINPresswire.com/ -- 2021 has arrived and across the country, many small business owners are plotting out their course for the year. Given the turmoil of 2020, expect 2021 to be a busy and eventful one filled with change. That’s why Frank Swiger Ohio the CEO of S&S Training Acquisitions Corp., is going to share what he believes will be the biggest small business trends in 2021.
“2020 was an incredibly hard year for many small businesses,” Frank Swiger Ohio argues. “I know several small business owners who really struggled, and while I expect conditions to improve in 2021, it may be too late for many owners and operators.”
Back in September, the popular review platform Yelp reported that nearly one hundred thousand businesses closed down for good. Small business closures have always been common, but the COVID-19 pandemic forced more businesses than usual out of the market.
“As the economy opens up, some small business will return to normal operations,” Frank Swiger Ohio says, “but many small businesses close to the edge may still shut down. I feel bad, but there is a silver lining. I expect commercial real estate prices to drop and there will be more available used equipment in some industries, like the restaurant space. This will allow new businesses to enter the market more cheaply.”
Frank Swiger Ohio Argues Remote Work Will Benefit Many Small Companies
Remote work has become a lifeline for many businesses since office spaces across the world shut down. Some big companies, including Google and Facebook, plan to make remote work options available to many workers after the pandemic. However, Frank Swiger Ohio believes some small businesses will benefit the most from remote work going forward.
“I believe some large companies will struggle to maintain productivity and coordination via remote work,” Frank Swiger Ohio. “Many small businesses, however, can be more nimble, and managing a small remote team may prove easier. This should increase the competitiveness of small businesses in the future.”
Still, between closures, revenue problems, and a potentially sluggish economy in 2021, many small businesses could struggle. Frank Swiger Ohio also believes that consolidation could increase in the new year.
“Even as we see new companies enter the market, I expect to see an increase in consolidations,” Frank Swiger Ohio notes. “Big companies may snatch up smaller competitors, but I also think some small businesses will band together through mergers.”
A lot of businesses have turned to the Internet and various apps to survive the COVID-19 pandemic. The economy was already shifting towards the World Wide Web, but some small businesses were slower to embrace the Internet before the pandemic. Frank Swiger Ohio believes that more small businesses will emphasize online offers going forward.
“The Internet is the future for some industries or will at least play a major role,” Frank Swiger Ohio suggests. “I think we’ll see a lot of small businesses continue to emphasize online sales. Some businesses, like restaurants, may try to find lower-cost alternatives to food delivery apps and the like.”
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