There’s no doubt that a shocking number of businesses have been negatively impacted by the Covid-19 lockdowns – and many will simply never recover. But even amidst the stress and worry that business owners are facing as they attempt to look to the future, some entrepreneurs are finding that success can still be found – if you look in the right places.
Keen for some inspiration? Not only has there been a record number of new company registrations this year, but there are a number of industries that are booming as consumers are forced to stay home and to limit their usual activities.
Delivery companies and e-commerce retailers are perhaps an obvious pair of winners, with the ONS finding that e-commerce sales doubled this year to a record 33% of all total retail sales. And the trend looks set to continue with the lockdown 2.0 now in place and with retailers gearing up at this time of year for Christmas.
Perhaps less obviously, pet care companies are also seeing a huge surge in demand, as homeworkers decide to get their own pet to keep them company. Businesses which sell pet food, medicines, accessories and other services for pets – as well as breeders themselves – are seeing business boom as a result.
A third growth category could best be described as ‘home comforts’ and it encompasses everything from specialist home spa products through to DIY and redecoration products. With the nation now spending more time at home than ever, we all want to make our living environment as comfortable and enjoyable as possible. Again, this trend looks set to continue and to be augmented with Christmas products in the coming days and weeks.
So what does this mean for entrepreneurs and existing business owners? If there is a chance to pivot or to adjust your business strategy to an online delivery model, now is the time to do it! Some businesses are selling online for postal or courier deliveries and others are offering local deliveries only for a more scaled business model; both of which can be successful if you can capture the right niche.
The key to success lies in understanding your market and positioning your offer correctly, with excellent digital channels which attract and engage your customers before enabling them to convert to a sale in just a few clicks.
At Century Business Finance, we offer the finance that you need to put your business plans into place – fast. Rather than waiting for face to face appointments and lengthy processes, we do everything online in just a few short steps. Simply complete the short online form and our team will quickly review your application for a fast decision. After that, the loan funds – of £10,000 to £150,000 and for any business purpose – can be in your account in just 24 hours.
Choose to borrow from 6 months to 2 years, and enjoy generous terms that include no early repayment charges and no upfront fees. At Century Business Finance, we’re open for business and ready to lend – whatever your business reason for wanting to borrow extra funds. Get in touch today with any queries or simply apply online in a few short steps for a rapid decision.
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