2020 brings a new year and a new decade. So, as we head into a new era, what does the small business landscape look like?
We’ve rounded up some of the factors impacting small business in 2020. From the environment to influencers, the challenges and opportunities SMBs face are varied and exciting. We hope this article shows you the possibilities to help your customers do business in a new decade.
1) The environment
Globally, there is growing awareness about how humans impact the environment. Many business owners want to do something about this. That means they’re looking for ways to alter their processes, change how they serve customers and the suppliers they work with. For entrepreneurs, running a business according to their values is a way to make a difference. It’s also a powerful way to connect with customers who share the same values.
A clear website with a strong message is a great place to let people know exactly how a business lives its values. BaseKit’s platform helps you to support your customers, as they share their message with the world. Not only do we offer easy-to-manage, easy-to-set-up websites, our 2020 developments will make customers’ sites even more attractive. Watch this space! We’ll keep you updated when the latest updates drop.
2) eCommerce will continue to grow
In December 2019, internet sales made up 21.3% of total retail sales in the UK. Compare this with the 6.9% represented by internet sales in December 2009 and it’s easy to see which way retail is going. And even with the marketplace dominated by established players such as Amazon, it hasn’t deterred smaller sellers. Globally, it’s a similar story. By 2021 global eCommerce spend is predicted to reach $5 trillion, up from over $3 trillion in 2019. For entrepreneurs who want to achieve sustainable business growth, this upward trend in online spending is good news.
As 2020 and the new decade unfolds, mobile eCommerce will continue to grow in importance. In 2017, mobile eCommerce spend was $1.4 trillion worldwide. In 2021, this is predicted to rise to $3.5 trillion, with sales via mobile devices expected to represent almost three-quarters of all eCommerce sales. A mobile-first approach is vital, because it means customers can find what they’re looking for and purchase straight from their devices.
eCommerce is one of the easiest ways to start a business. With BaseKit’s store builder, the process is painless too. We’re always working to help SMBs get online and to succeed once their site is ready. Our 2019 H2 developments outline how we plan to do this in the coming year.
3) Reviews and testimonials will continue to grow in importance
The 2010s saw sites such as Trustpilot shake up the customer buying experience. Social proof is everything when it comes to buying and selling online; these platforms make it easy for customers to review online stores. With the help of a recognised name like Trustpilot, small businesses put themselves in the best position for success by letting their happy customers do the talking.
BaseKit’s platform means that online sellers can add testimonials and reviews to any page of their site. Sections make it easy to draw attention to positive customer experiences. And when it comes to review sites, which rely on SMBs having their own website, it matters. Expectations have changed, consumers are knowledgeable and want to feel reassured about who they purchase goods from online. Customers who can see that a retailer has a professional website, a legitimate social media presence, and a good reputation with third-party review sites are more likely to buy.
4) Influencer marketing
As we move into a new decade, influencer marketing shows no sign of slowing down. There are two possible options for small businesses to connect with influencers in their marketplace:
- a) SMBs might choose to work with a growing number of influencer agencies to promote their products.
- b) Being a well-respected, established player in their field means small businesses have a unique opportunity to become influencers themselves.
Whichever route small businesses choose to explore – working with partners or flexing their own influence – a slick online presence is vital. In the fast-moving online world, quick website updates and easy management are key to making the influence machine work.
5) Small Business Growth
January is always a popular time to launch a new venture as entrepreneurs are fired up by a new year. Statistics published by the UK government show that there were 5.9 million businesses in the UK in 2019. That’s an increase of 200,000 from 2018. There’s no doubt that the 2000s have seen a shift in the business landscape generally, with the small business sector growing. Many of the new businesses are small- and micro-enterprises, as more people choose to work for themselves.
The age of the internet gives people a great opportunity to run their own business. In many ways, it has never been easier to get going!
That said, people still need the support of their website provider. They need the tools to help them fulfil their dreams. BaseKit offers solopreneurs and SMBs competitive rates to build a website and create an online store. For everyone who’s dreaming of starting their own business, they can rest assured that there’s a simple and low-cost way to do that.
Help make 2020 the best year yet for your SMB customers
Whether it’s a new venture or an established business, help your customers step confidently into their online presence. There are many obstacles SMBs have to overcome, a beautiful and effective website shouldn’t be one of them. Interested to learn how we can support you as you help your SMB customers to succeed? Our sales team is happy to talk you through the process. Get in touch and we’ll call back when it’s convenient for you.