Digital agency growth has, in recent years, been heavily dependent on the state of the pandemic. Currently, experts predict that by 2024, small businesses will add $2.3 trillion to global GDP growth. However, this success was not overnight. COVID-19 hit small businesses hard, with women and minority led businesses seeing the most change. Permanent closures, significant employee layoffs, and reduced sales became the norm during the pandemic.
Fortunately the future is beginning to look brighter, as many small businesses prepare to move online following the pandemic. Although almost 40% claim to still be in survival mode, the switch to a digital future is inevitable for most. In addition, many business owners are starting to delegate and organize work tasks to create a more efficient and operationalized business model. As they currently operate, 3 in 4 businesses are not prepared to take on new clients or new success.
Now is the time to build a resilient and scalable business. This is something that experts say most business owners are aware of and are working on to take their business to the next level. Tracking different performance areas allow owners to identify strengths and gaps and make the appropriate changes for the uncertain future.
Prepare for the unexpected while scaling digital growth, and watch your business turn into a lean, profitable machine.
