The COVID-19 pandemic challenged many small businesses last year, and the theme for 2021 is recovery. However, there’s still a great deal of economic uncertainty, so you’ll need a business development strategy to help your company succeed. Here are some tips to help you start building a foundation for this year's plan.

How Should Your Small Business Approach 2021?

1. Budget & Apply for Assistance

The Small Business Administration is offering low-interest loans to help companies continue through the pandemic, so the first step is to speak with a banker. This money will help you keep employees, cover rent, and pay marketing costs. 

Once you’re approved, plan your finances carefully. The economic forecast is unclear, so create a budget that anticipates several scenarios, such as additional lockdowns or lifted restrictions as vaccines are rolled out. That way, you’re prepared for whatever comes.

2. Continue Contact With Customers

Customers will need to fulfill their needs as pandemic restrictions are lifted, and you want to ensure you’re first on their minds. Continue your marketing efforts, especially online. Potential customers may spend more time on social media while at home, so keep your handles active. Create high-quality content for your blog, send out social updates, and be available to answer questions.

3. Adjust Your Customer Base

This is a chance to rethink your customer demographic in terms of business development. Look for unfilled niches. For example, if you own a restaurant, start serving a broader menu and increase your food delivery fleet. 

Surviving the pandemic has required adaptability. If you serve an older demographic that’s not active on social media, you may need to focus on younger customers who are. You have plenty of time to strategize, and when the economy reopens, you’ll be able to take on more business.

Business owners in southern Metro Atlanta, GA, turn to South Fulton Chamber of Commerce Inc for success. This local organization is committed to supporting member companies and offers business development and networking resources. They host regular events for small business owners and are proud to create unique opportunities. Call (770) 964-1984 to speak with a representative and visit their website to learn more about becoming a member.