Even as many companies begin to recover from 2020, thousands of small businesses continue to struggle to turn a profit. COVID-19 lockdowns make it difficult for brick-and-mortar businesses to keep their doors open, while reduced income for millions of Americans has decreased spending across the board. Even many online businesses have taken a hit over the past year.
As a result, small businesses need to navigate through these difficult economic times with more caution and precise strategy than they did in the past. Fortunately, we have a few tips for small business owners who need help keeping their business going during a bad economy. So, let’s get started!