Overall, the Covid-19 pandemic had a destructive impact on economies all over the world but small businesses were the worst hit of them all.
For example, the hardships of the restaurant industry ain’t no secret. And in places where there’s still a ban on indoor dining, restaurants are struggling to make ends meet.
But despite the woes and roadblocks, some businesses managed to not only survive but thrive during the storm. The plan was to respond quickly and adapt to the changes or restrictions necessary to slow down the spread of Covid-19.
As per Yelp, San Francisco based user review website, restaurants and bars have been the worst hit since March 2020. However, service providers such as accountants, lawyers or plumbers proved resilient.
While some businesses had to shut down due to a cash flow crisis, some fared well during the pandemic and even expanded their operations.
Let’s have a look at such companies that managed to come out of 2020 even stronger than before despite the well-documented plight of some companies.
It’s a local wine shop in Brooklyn run by Ms Foss and her husband. The shop was inaugurated in March 2019 on a lightly trafficked street in the Bedford-Stuyvesant neighbourhood.
However, things didn’t go so well for the couple. The shop was never crowded and they had to literally beg people to try their stuff.
But the pandemic changed the dynamics. As the city locked down, customers started to purchase wine by the bottle and by the case. As a result, the sales almost doubled up in April and went to an all-time high during the summer when anti-racism protests rocked the city and the demand for black-owned businesses (a speciality of Happy Cork) skyrocketed.
The owners doubled their staff this year and customers from all over the country are stopping by the shop drawn in by their social media posts. It’s safe to say that the business surpassed the sales projections Ms Foss mapped out when it opened.
Specscart is UK based eyewear company that came into existence in 2017. For a start-up, the company didn’t only manage to survive the initial phase but achieved exponential growth and customer loyalty. And the pandemic gave Specscart the boost it needed all this while.
As theatres, cinemas and concert venues went empty, people looked for online mediums for entertainment. Did you know that Netflix got 16 million new subscribers only in the first quarter of 2020?
The time people spend on digital devices went off-limits during the lockdown. Many people reported unusual visual symptoms and experts believe that the increasing screen time might have something to do with it. Thus, people started to embrace glasses to protect their eye health when using computers, laptops or watching television.
As per the MD of Specscart, Siddharth Sethi, “2020 has been the best performing year for us so far. We recorded explosive revenues from our blue light glasses. With only a limited number of optical stores opened in the UK, people are finding more reasons to shop affordable glasses online”.
But he also added that the company is aware of the growth rate and is constantly upgrading services to sustain that growth. From appointing a robust team of optometrists to offering innovative services such as virtual try-on, the company seems to be on the right path to success.
Allegiance Flag Supply
An American-made American Flags selling business started by Katie, Wes Lyon and Max Berry said that they opened their business in late 2018. They believed that people would love handmade flags made by American people using raw materials from America. But when the moment of truth came, they couldn’t find an audience for their products.
A year went by and they couldn’t find how to target customers with digital ads. And they realized that people won’t buy a flag just like that. They needed to tell the users about the quality and values of the flag.
They optimised their digital advertising and boom, their sales went through the roof. The company was locking horns with big businesses that are spending millions on political ads. But the one thing that sets the company apart is their love for American pride and die-hard patriotism.