It's no secret that small businesses took an over-proportional hit in 2020 (and well into 2021). However, that hasn't stopped people from expertly reacting to the issues with a pivot to even smaller-scale operations.
In only 16 years, the number of small businesses across Canada has grown by nearly 25%, from around 900,000 in 2001 to well over 1.1 million in 2017, making up just shy of 98% of the business market and employing countless Canadians.
With the recent challenges the pandemic has brought with it, combined with the overabundance of time spent at home, many new opportunities have sprouted up in the form of home-based businesses. While these new entrepreneurs have been spirited in their reaction to this new problem, many face further headaches when it comes to e-commerce and creating an online presence.
Creating a virtual space to sell products has become a lot easier in recent years but that doesn't mean it doesn't also come with its own set of headaches. Setting up a website or selling through a social media platform can be relatively simple, but ensuring customers reach these outlets is another story entirely. Unless you have a marketer on your team (or are one yourself), understanding the ever-changing minefield of web analytics, keywords, and metrics can be a daunting task.
An option that looks increasingly attractive for home-based businesses is to join an online marketplace that already has the reach and infrastructure in place, whether that's one that incorporates a broad spectrum of products or more niche interests. These sorts of partnerships can and have helped many local sellers connect more easily with like-minded consumers.
One example of this is the locally-focused online platform Local Street Marketplace. The "shop local" movement has gained so much momentum over the past year and this online marketplace gathers local businesses together for a one-stop shopping experience. With everything from clothing and jewellery to food and entertainment, their platform is flexible enough to include anything that is made locally. It is also a fantastic way to connect with consumers already in the shop local mindset.
Simcoe County was already a mecca for innovation and entrepreneurial spirit before the pandemic, but the recent growth of home-based businesses continues driving us to be an open yet self-sustaining community.
With the worst behind us, someone should start selling sunglasses because the future of home-based business, looks very bright.
Featured image courtesy of Rodnae productions via pexels.com
