Small- and medium-sized businesses were impacted the most by the pandemic due to the financial fragility that the COVID-19 disruption put on businesses during the initial stages. Businesses had to adapt to changes quickly, and a lot of them couldn’t adapt due to the ever-changing restrictions put in place.
The impact, especially on small businesses (SMBs), was substantial, with almost 100,000 businesses that closed temporarily. Many eventually shut their doors for the last time. Restaurants, Salons, tattoo parlors, and daycare centers are among many businesses either closing or that already closed. Technology is helping many businesses, especially those who don’t have to deal directly with the public, overcome the current and potential future pandemics.
