The year 2020 proved to be a challenging one because of COVID-19. Though business owners are faced with unprecedented hindrances, some of them are in a better situation than others. This is thanks to the business they’re running that has the potential to provide them with a good living despite the challenges. Let’s read about the business types that don’t find 2020 a bad year, and see how BestPaymentProviders.co.uk can help you stay afloat and grow.
Small Business UK: BestPaymentProviders.co.uk
In the UK, the number of small businesses reached 5.9 million at the start of this year. SMEs accounted for 3/5 of the employment and about ½ of turnover in the country’s private sector. Before the 2nd lockdown, over ½ of small business owners believed they couldn’t survive.
On the other hand, some businesses prospered in the created situation. These are mainly the ones associated with online sales and deliveries. Overall, the situation is rather problematic for small businesses as they aren’t only faced with COVID-19 but also with the presence of the 2nd wave and financial issues concerning Brexit.
Before the 2nd lockdown, more than ½ of entrepreneurs surveyed found the 2nd wave one of their main 3 concerns. 43% of them believed they’d need more financing, and 35% needed support with employee salaries.
Given the current situation in the country, it’s extremely important to work only with a true payment expert dedicated to helping merchants overcome their financial challenges. To find one, just turn to a reputable payment-processor comparison company like BestPaymentProviders.co.uk. This way, you can be sure to come up with the most suitable merchant services for your business in the UK.
Businesses That Don’t Find 2020 All Bad
Here’re several successful businesses that haven’t lost their profitability even during COVID-19:
- Content Writing/Copywriting Business
With content marketing gaining more and more traction worldwide, content writing and copywriting are in higher demand.
- Design Business
Graphic design is also in high demand all over the world.
- Bakery and Desserts Brand
The demand for baked goods didn’t decline in 2020. 2/3 of businesses were able to keep their doors open even when faced with COVID-19.
- Takeaway and Delivery
Delivery or takeaway gained exceptional importance during the lockdown.
- Plant-Based Food Business
This type of business didn’t show any sign of slowing down.
- Mobile Businesses
Mobile businesses like a mobile hairdresser business acted as a game changer.
2020 turned into a unique year both for customers and businesses. While many of the UK businesses are worried whether they can stay afloat, some of them didn’t slow down and remained profitable even when faced with COVID-19.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of payment experts like BestPaymentProviders.co.uk. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie with ice-cream on his backyard porch, as should all right-thinking people.