Online ordering, mobile payments, and contactless transactions are now the norm - and will only continue to increase. Software technology and automation has undoubtedly enabled many small companies to adapt their business management operations to meet this moment.
While these closures have been especially tough on sectors such as the restaurant industry, others, such as home and professional services, have been able to withstand the exceptional challenges of the pandemic economy.
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In September, a Yelp economic impact report concluded that nearly 100,000 businesses had closed due to coronavirus-related measures and uncertainty. There’s no question that 2020 has been an exceptionally tough year for small and medium businesses (SMBs).
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