Entrepreneurs finding opportunity in Covid
December 13th, 2020 – Innovative SMEs and start-ups are making the most of opportunities created by the Covid disruption, according to a new report.
While some businesses have been able to innovate, job losses have steered many individuals into entrepreneurship, it found.
The report, ‘The Coronavirus Pandemic: A Tinder Box for Creative and Disruptive SMEs and Start-Ups’, assesses the economic impact of the pandemic and demonstrates how SMEs and start-ups are finding new business opportunities.
It was published by the Great British Entrepreneur Awards & Community and business finance marketplace Funding Options.
Responding to pinch-points in UK supply chains, local providers have filled the gap to support vulnerable consumers, it suggests. Coronavirus is “catalysing businesses built on trends which have been accelerated by the outbreak”, indicating growth will continue post-pandemic.
Government support mechanisms, such as the furlough scheme and CBILS have brought “crucial support”, saving jobs and helping businesses navigate this tough economic period.
Written by SME Guidance for business growth
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