Wells Fargo Bank, NA
The challenges created by the COVID-19 pandemic and resulting economic hardships can make 2020 a difficult year to look back on. 46 percent of small business owners surveyed in the Q4 Wells Fargo Small Business Index reported decreases in revenues, while the prospect of closing their business was most frequently ranked as the top concern. Nonetheless, even the most challenging times can yield opportunities for the future. 2020 provided hard truths, but also valuable insights that small business owners can use at the outset of 2021 to move forward.
Get online
Nearly one third (29 percent) of businesses planned to start using a website in 2020.1 Luckily for those that followed through on that plan, 2020 showed that having a strong online presence, user experience and functionality can not only be a competitive advantage in the marketplace, but also critical to a business’s survival. 86 percent of consumers rely on the internet to find a local business.2 With a well-rounded digital strategy, including a website and social media, business owners can build awareness and leverage how people are searching for information online. Further, ensuring a positive user experience with these channels can help set up an environment for business growth.
Key questions:
- Is my website mobile friendly?
- Can customers place orders or make payments online?
- Are my hours and contact information up to date?
