Share

Share on facebook
Share on google
Share on twitter
Share on linkedin

How SMEs can restart and recover with tech and innovation in the post Covid-19 world ?

The business health of the SME industry is often a key indicator of a country’s economic  condition. When SMEs struggle, a nation struggles. While SMEs are hard to classify based on size  of investment or employees, they are critical for a country to achieve their innovation and  development goals. Not to forget, they also have a huge bearing on keeping the population busy  with jobs.  

But, SMEs have been hit very hard since the pandemic began. This pandemic has affected more  livelihoods than lives and has the potential of tearing down the economy lockdown after  lockdown. The demand and supply equation has suffered and changed dynamically over the last  year and newer waves of the virus don’t seem to be making it any easier for them to recover.  

What they need at this point is to demonstrate innovative thinking to keep themselves in business.  It is important to understand that they exist across a wide spectrum that begins as a startup and  ends at an established medium sized business. Here are some solutions that can help SMEs  recover with tech and innovation in the post pandemic world. 

Switch to work from home

SMEs have been hit hard on both, the demand and supply side. Lack of employees or labour at  workspaces has brought down the overall output and in some cases even caused businesses to  become temporarily or permanently shut. This calls for swift action. Use technology to switch to a  model where employees can work from home. Adopt tools that can take your business online,  provide employees with communication tools to perform from remote locations and keep the  business going with bare minimum need to call employees over to workspaces. Always remember  that work from home is harder on employees than you might think. It comes with its own  challenges and is not suitable for most employees. Reputed startups like OYO have recognised  the stress employees undergo while they work from home. Office and home lines blur, calendars  are always full and work from home has been tougher than they imagined it to be. So, they went  ahead and declared every Wednesday off for their employees, transitioning to a 4 day work week  to reduce stress and focus on employee health. Additionally, they have declared that paid leaves  will be provided on an infinite basis, with no questions asked. Food startup Swiggy had also done  the same for their employees and partners giving them the flexibility of choosing their weekly  extra day off.  

Go online  

Take your business online with e-commerce. Enable this for your business today using various  platforms available so that you can continue to serve your loyal customers and induct new ones.  An e-commerce enabled business also casts a wider net to reach out and create awareness  about your product. And basis the platform, devise creatives, information to ensure that you can  build consideration for your product or service offering.  

Gourmet ice cream manufacturers Artinci in Bengaluru took their business online using WhatsApp  for Business to reach a wider customer base and serve them better during the pandemic. They  managed to navigate the lockdown successfully and have emerged a formidable and favourite  player in the local ice cream scene in the city.  

Social media skills  

Social media will move up the priority ladder for all your marketing efforts. To ensure you do this  with frugality and efficiency in mind, pick up skills in this domain. There are several free online  classes that teach social media skills for everyone and you should sign up for them. 

Take a class on Udemy, or a Google course or LinkedIn learning or even CourseEra to pick up  skills easily. It’s okay if you are out of the learning habit. These video based courses are very easy  to understand. The simplicity and intuitive manner of teaching makes for very interesting classes.  

Using medical technology  

This is in reference to employee health with regards to the vaccine. Fortunately, we have a vaccine  that can protect your employees. So, sign them up for their shots and get their health and their  family’s health covered. This also helps boost employee morale and builds loyalty for them.  

Most companies like the Tatas and the Mahindras have led the way in vaccinating their  employees. The more drives conducted by employers, the safer employees and their families will  be. The safer they are, the lesser the virus spreads. And this can only mean that business will get  back to business.  

Embrace new technologies for sanitisation 

Emerging technologies for the safety of your business establishment is out there. Read up, go and  seek demos to understand how new devices, tech can be used to keep your store or office space  safe. Traditional methods will always be available, but in the world of smart technology, devices  like the Shycocan can make spaces extremely safe from the transmission of viruses in the current  pandemic. With up to 99.9% efficacy in neutralising the coronavirus, this is a great option for you  to make your office spaces safer for both, your employees and your customers.  

Help sales teams network  

Your sales team cannot meet people like they used to. So, help them register for online  conferences, workshops, events and continue meeting new prospective clients for your business.  They might need some training to figure out how to track these events, register and attend. So,  works towards bringing your entire salesforce to the same level and keeping them inspired.  

Your website is your first impression  

The consumer journey towards your offering has changed drastically. They discover your business  via online search and this makes your website your storefront. Ensure you revamp your website to  reflect your updated services and lead visitors to enquiries or even orders. And don’t forget to  make it compatible for efficient mobile viewing. Most prospective customers start their search  journey from their phones today.  

All the above tips shared will take SMEs closer to keeping their head afloat, and even thrive in the  current and future business atmosphere. While things get unpredictable, it’s always best to plan  for the present, keeping the future in mind. Don’t stop innovating. Rely on tech. We will get to the  other side of a thriving business environment together. 

———- 

Alok Sharma is CEO, Shycocan Corporation, the Company behind a breakthrough new  technology, the Shycocan. A virus attenuation device that can disable the entire Coronavirus  and Influenza family of viruses with 99.9% efficacy in enclosed spaces as per multiple virology  test reports from accredited laboratories globally. He’s the former MD of Apple India, an angel  investor, entrepreneur, dad and eternal optimist.

SUPPORT

Enterprise grade build with superior components and longer durability

1 year On-site replacement Warranty in major cities.

Professional services designed for enterprises, on request

At Shycocan, we welcome the opportunity to speak with potential partners, customers, or anyone with an interest in learning more about the transformative potential of our technology.

DISCLAIMER

Shycocan Corporation is the supplier of the Shycocan Virus Attenuation Device (‘Shycocan VAD’), a device that neutralizes up to 99.9% of certain classes of viruses, only if the device is installed, operated and maintained as prescribed and under pre-defined conditions, as proven in virology lab test reports. Shycocan Corporation, its parent entities, and its associated, subsidiary, joint venture companies, and their respective promoters, shareholders, directors, management, managers, employees, distributors and channel partners and agencies shall bear no liability personally, individually, jointly or severally to any person or persons using the Shycocan VAD, or to any person or persons who the users of Shycocan VAD intend to protect, and they shall bear no liability whatsoever to any person whomsoever who may catch any infection at any place prior to or after leaving those areas where the Shycocan VAD  is installed and operational. Shycocan Corporation is committed to keeping its customers safe, protected and to help bring business back to business, and life back to normal, but our customers are requested to take all precautions prescribed by the government health authorities in their respective countries to ensure that they and their customers, employees, visitors and families remain safe.