Emerging from the Covid Cocoon: What’s next for SME’s
We are emerging from the Covid Pandemic and Ireland is well on its way with over 50% of its population either booked for or have received their 2nd vaccination. (Latest statistics show for ROI 61% partially vaccinated and 31% fully vaccinated and in NI 60% are now fully vaccinated).
Hospitality (thankfully!) is re-opened but we’re still keeping a safe distance. The Furlough Support scheme remains in operation for some SMEs until end of September 2021, VAT reductions are still offered to hospitality, or those businesses involved in accommodation or attractions and digital funding support from Government bodies such as InterTrade Ireland and Government support loans for business still exist.
We maintain safe distances within the workplace, embrace hybrid working and continued remote working policies with a consistent focus on online meetings rather than a full return to the traditional face to face meetings. We have had to adapt. Flexibility and agility have become the norm in our repertoire of business language alongside, e-mail, family oriented working times and now the UK, Scotland and Ireland are considering the pros and cons of a 4-day working week! We have emerged with a strong digital focus, a balanced working life (or at least aiming for this in a much better and flexible manner) and some industries will not return to a full Monday – Friday 9-5pm office working model. Change is sometimes good!
But what now for SME’s and Micro Enterprises as they get to grips with these changes?
Speaking recently to a growing SME and now one of Northern Ireland’s leading EPOS providers (Payment/E-Commerce) and technology specialists, EPOS NI, Paul Ely, Company Director and Partner has agreed that their business is one that has thrived during this pandemic. They may be considered the lucky ones, but growth only comes with determination and hard work. Especially during a world pandemic such as Covid 19. However, they were prepared with resources, Technology, digital marketing, and online customer response systems to ensure that they could be fully ready to deal with growing demands. Paul commented, “It’s been an immensely busy time, but we were keeping businesses open and operational during a time that was very difficult for them. They were able to update their systems, take payments on-line and become more effective. We felt at the heart of it during this Pandemic and as an SME ourselves, we understand our customer’s needs”.
Other business that Full Circle have worked with and supported during this pandemic have managed to turn a bad situation into one of opportunity. We asked a few of them what they are doing now in partnership with their Full Circle Management Consultant to emerge better and stronger. Here are 4 main points to consider:
1. Get REAL time Social Media and Marketing content and scheduling. A digital marketing strategy is essential for survival.
2. Think INNOVATION – new products or changes to your services to reflect increasing demands or new market preferences helps to be competitive and always ahead of the game.
3. Use TIME wisely by reviewing the internal processes, streamlining and automating what is possible. Due to more people working hybrid and remotely, backend systems such as Accounting or Customer Systems have become automated. Although an investment, the resources saved have been utilised better elsewhere in the business.
4. Being RESPECTFUL to staff and Clients as they transition their new working models and amended family time, which has in turn resulted in more attentive and dedicated employees. We gave to them, they have delivered and produced more for is in return.
To summarise, in the words of Viktor Frankyl:
“There is space between stimulus and response, and in this space is our POWER to choose”
Choose wisely for your business and you can emerge from this successful and even more determined.
Want more information on the supports available? See below for some useful links:
https://intertradeireland.com/covid-19-supports/e-merge
https://www.derrystrabane.com/BIG
Want to find out how Full Circle can help you and your business? Get in touch today!