The outbreak of the novel coronavirus has left businesses around the world in shock and devastation. Its massive impact has crashed the public markets and shuttered businesses. The pandemic has affected everything starting from investment, sales, employment, and growth.

The COVID-19 has particularly hit the small business worst. It has shown a tremendous effect on small businesses, and many are on the verge to close their doors. While the economy is on the brink to collapse, the impact of COVID-19 has been painstaking for small businesses.

Impact of COVID-19 on small business

As a result of COVID-19, the economy of Canada has changed dramatically, and there has been an unprecedented impact on the Canadian economy.

As per a CIBC study, the majority (81 per cent) of Canadian small business owners say COVID-19 has negatively impacted their operations, and many (32 per cent) worry about the viability of their business over the next year. While some are confident they will rebound, a majority of them are still unsure how to respond to this uncertainty and keep their businesses afloat.

Some Bad Facts!

A survey by Statistics Canada and the Canadian Chamber of Commerce clearly states that:

• Around 32 per cent of small businesses in Canada with more than 100 employees reported 20 per cent or more decline in revenue.

• Nearly 41 per cent of small businesses with less than 100 employees reported that they laid off at least one employee and among 45 per cent of them laid off 80 per cent or more of their workforce.

• Around 30 to 40 per cent of small businesses reported that they asked for help from financial institutions to cover operational costs.

The pandemic has created a threatening situation for small businesses. It has given them a big hit and left them wondering how to recover.

However, even in such a terrible economic scenario, small businesses can survive and bounce back by taking essential steps. With adaptations of smart business and operating models, small businesses can sustain, and thrive again.

The Survival Plan

Hit by COVID-19, there is no doubt that small businesses are experiencing a brutal impact on their businesses. They are facing extreme challenges to keep their wheels running during this contagion.

However, since the market is changing every now and then, small businesses must reassess their old business models and strategies and look for the greener side.

So if you are a small business owner, and you want to navigate the COVID-19 crisis, then you need to change, adapt and align your work culture with new and smart business models and technology. And speaking of new and smart models, you must have come across the Team-as-a-Service (TaaS) model; haven’t you?

The Team-as-a-Service (TaaS) Model

The Team-as-a-Service model is the most beneficial and efficient way to minimize the negative impact of the pandemic on your business. It provides you with the ideal teams with qualified, skilled, and experienced professionals. There are numerous benefits of adopting a TaaS model, and, it all begins with learning a little about TaaS players like Xspertto!

Xspertto is a single partner that cares about your success and a perfect solution for building your business agility. It offers packages with unlimited projects with the full flexibility of interchanging skill sets needed to grow and expand your business.

The things you must know about Xspertto

In these unprecedented and challenging times of the pandemic, when small businesses have reported a significant decline in cash flows, Xspertto gives you access to a cross-functional team of highly skilled professionals and certified experts with years of experience at the most affordable rates. Its services start as low as $399. Such a saviour, right?

Team-as-a-Service is going to be the new normal in times of unexpected economy disruption. And Xspertto brings you the best TaaS model to overcome your extreme work challenges by offering dedicated and focused teams to drive proactive operation and high productivity.

Xspertto provides flexibility and adaptability to grow your business while managing the crisis situation and offers substantial financial savings in workforce costs. So, if you have laid off employees due to financial constraints and are worried about running your business, then it is the right time to switch over to Xspertto. Still, thinking?

With Xspertto, you get the best-in-class tools that help your business to grow effectively and efficiently. Xspertto specializes in Salesforce, a leading customer relationship management system in the market today, and uses it in conjunction with other industry-leading tools necessary to ensure you meet your business objectives.

Moreover, it follows the Six Sigma approach to process improvement. Lean Six Sigma is a method that relies on a collaborative team effort to improve performance by systematically removing waste and reducing variation in a process. The cherry on the cake, yay!

In a time like this, when you are struggling with a shortage of talent and financial constraints, and a severe decline in revenues, all you need is a dedicated team with the right leadership, smart tools, and protocol to start your business again. And Xspertto tops the list by providing you with a skilled team with a dedicated project manager, best-in-class tools, and collaborative effort at a cost-effective price. It helps your business gain the right visibility, higher productivity and flexibility, and faster business scalability. And most importantly, with the best software tools and the right talent, it reduces your business costs and improves your sales that lead to an increase in revenue.

CONCLUSION

The COVID-19 crisis has pushed the world economy into a global recession, and the disruption in the economy has shown small businesses a mirror of a darker reality. Small businesses across the world have faced a substantial decline in sales and revenues, and many are dwindling to almost nothing.

Thus, in this time of uncertainty, when the business world is still on a downward slope, it is time to be proactive rather than reactive. Yes, you heard it right! It is the perfect time to shift from stone age methods to new and smart business operating models such as Xspertto that can respond faster to the crisis situation and help in operating, competing and achieving your business goals. Sounds great?

So, it is now up to you! Ask yourself where you want to see your business after this global crisis? Do you want this pandemic to kill your business, or do you want to take your business to new heights?