# How Entrepreneurs Can Build Successful Businesses in a Covid-19 Landscape
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2020-10-12
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: How Entrepreneurs Can Thrive Post-Covid-19
Meta Description: Learn how savvy entrepreneurs are leveraging the challenges of Covid-19 to drive future business success. Discover innovative solutions and key strategies.
URL: https://financedigest.com/how-entrepreneurs-can-build-successful-businesses-in-a-covid-19-landscapehtml

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_By **Curtis Bailey,** Business Development Director at_ [_TechNET IT Recruitment_](https://technet-it.co.uk/) _, explores the challenges faced by entrepreneurs following Covid-19, and suggests ways in which some entrepreneurs will be able to leverage these changes for future business success._

The Covid-19 pandemic is having a profoundly negative impact on business the world over. Recent analysis by the [Institute for Employment](https://www.theguardian.com/business/2020/sep/14/uk-autumn-covid-19-redundancies-could-exceed-700000) expects announcements of nearly half a million UK redundancies this autumn. The job market is in turmoil, many small businesses will not last the winter, and people are less willing to take business risks. Most businesses have downsized and moved to strategies of survival rather than growth.

Conversely, some savvy entrepreneurs have used the extra downtime to get their own projects off the ground. Many entrepreneurs have either left their [roles during the crisis or reassessed their own career](https://www.financedigest.com/the-importance-of-role-models-and-policy-in-encouraging-more-women-to-pursue-careers-in-the-finance-sector.html "The importance of role models and policy in encouraging more women to pursue careers in the finance sector") priorities in the wake of it, moving into freelance positions on the verge of beginning their own businesses.

The rise in [home working](https://www.financedigest.com/working-from-home-heres-how-you-can-save-money-on-your-auto-insurance.html "Working From Home? Here’s How You Can Save Money on Your Auto Insurance") is likely to promote a skills and knowledge driven economy, and so entrepreneurs are at a distinct advantage when it comes to growing their businesses beyond the constraints of geography. Entrepreneurs who are guilty of taking on too much will now be free to outsource to exterior workforces, allowing them to refocus on the core principles and [objectives needed](https://www.financedigest.com/why-coding-needs-to-be-re-evaluated-for-sustainability-objectives.html "Why coding needs to be re-evaluated for sustainability objectives") to grow their business. This, [combined with access to an increasingly growing](https://www.financedigest.com/the-combination-antibody-therapy-market-to-grow-on-a-satisfactory-note.html "The Combination Antibody Therapy Market to grow on a satisfactory note") skills pool of freelancers following Covid-19 redundancies, can only be beneficial to 2020’s entrepreneurs.

The move to a home-based workforce will have further benefits, as a more digitally focused world means more opportunities for entrepreneurs to [automate processes](https://www.financedigest.com/what-businesses-can-achieve-with-microsofts-full-suite-of-process-automation-tools.html "What businesses can achieve with Microsoft’s full suite of process automation tools"), saving them valuable time to focus on other areas of the businesses. Technologically proficient entrepreneurs able to find clever solutions for managing contacts or data will stand to get ahead despite the [pandemic’s impact](https://www.financedigest.com/the-pandemics-impact-on-working-mothers-new-research-reveals-that-two-thirds-have-stopped-working-or-now-work-less.html "The Pandemic’s Impact on Working Mothers: New Research Reveals That Two-Thirds Have Stopped Working or Now Work Less").

Going one step further, some entrepreneurs will be able to use the pandemic’s [impact as a genesis for further innovation](https://www.financedigest.com/cavai-global-leader-in-conversational-advertising-announces-innovative-launch-of-conversational-video-to-maximise-engagement-and-impact.html "Cavai, global leader in conversational Advertising, announces innovative launch of conversational video to maximise engagement and impact"). [Covid-19 has had a dramatic impact](https://www.financedigest.com/covid-19-impact-could-hit-japanese-automakers-output-in-oct.html "COVID-19 impact could hit Japanese automakers’ output in Oct") on the world’s landscape, leading to changing practices and processes on both a consumer and business-led level. This [creates a fertile new market for innovation](https://www.financedigest.com/probiotic-soda-market-product-innovation-by-live-soda-and-lifeway-foods-to-create-exciting-growth-opportunities-reports-by-fact-mr.html "Probiotic Soda Market: Product Innovation by LIVE Soda and Lifeway Foods to Create Exciting Growth Opportunities, reports by Fact.MR").

Take Andrew and Rachel Montague, an Edinburgh based couple who were able to make more than £30 million with a well-timed ethical hand sanitiser [launched in March this year](https://www.financedigest.com/musk-says-tesla-will-launch-prototype-of-humanoid-robot-next-year.html "Musk says Tesla will launch prototype of humanoid robot next year"). Find a problem or [market](https://www.financedigest.com/why-you-need-to-embrace-nostalgia-marketing-right-now.html "Why You Need to Embrace Nostalgia Marketing Right Now") need which needs addressing and look for creative solutions. But [remain aware of the market](https://www.financedigest.com/tissue-tapes-market-remains-afloat-amid-covid-19-pandemic-to-surge-positively-projects-fmi-2019-2029.html "Tissue Tapes Market Remains Afloat amid COVID-19 Pandemic, to Surge Positively, Projects FMI 2019 – 2029"), and assess whether your product or service is a short-term or long-term solution – will there still be a passion for this product once the pandemic is under control? Have a game plan to account for this, and don’t be afraid to pivot depending on [business needs](https://www.financedigest.com/why-businesses-need-to-shift-their-e-invoicing-approach-from-local-and-tactical-to-scalable-and-strategic.html "Why businesses need to shift their e-invoicing approach – from local and tactical to scalable and strategic").

Finally, entrepreneurs should take on board the human-cost of the pandemic and bring empathy to the forefront of their endeavours. The [media discourse](https://theconversation.com/lead-with-empathy-during-the-covid-19-crisis-135175) has hinged on how companies have been treating their employees throughout the crisis, and health – both physical and mental – is at the forefront now. Leadership in the [pandemic is about handling](https://www.financedigest.com/listen-care-share-ofwats-latest-report-on-the-water-industrys-handling-of-customers-during-the-pandemic.html "Listen, Care, Share: Ofwat’s latest report on the water industry’s handling of customers during the pandemic") stress, and the stress of your team. [Entrepreneurs who focus](https://www.financedigest.com/focus-on-women-entrepreneurs-feature-interview-with-eloise-skinner.html "Focus on Women Entrepreneurs- Feature Interview with Eloise Skinner") on people first, and build employee empathy into their campaigns, stand the best chance of growing in the post-Covid 19.


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