LANCASTER, Pa. (WHTM) — The U.S. Small Business Administration predicts four major trends for small businesses in 2021. SCORE Lancaster-Lebanon chapter chair Kevin St. Cyr says many local businesses have already been incorporating the practices that are predicted to gain popularity this year.
The business trends the SBA says “are likely to dominate in 2021” are as follows:
- E-commerce will continue to be a priority for businesses.
- Cashless and, especially, touchless payment options will become more popular.
- Remote work will continue.
- Demand will continue for businesses offering virtual services, such as at-home fitness or food delivery.
The SBA encourages small businesses to find ways to expand into these areas if they haven’t already done so. “I think the pandemic certainly accelerated many of these four trends,” says St. Cyr. “For instance, companies had already thought about doing e-commerce as a way of doing business, but I think [COVID-19] really accelerated it…as a means of survival.”
St. Cyr says the future of small business will likely look like a hybrid of their operation before and during the pandemic. He notes, for example, that many restaurants began offering takeout as a result of COVID-19 safety precautions, and he thinks that they will continue offering takeout once things get “back to normal.”
“The adaptability of our clients in Lancaster and Lebanon has been phenomenal,” says St. Cyr. “Overall we see a great resiliency.”
SCORE Lancaster-Lebanon offers business mentoring and workshops.