Small business owners see 2021 as an opportunity to bounce back and rebuild from nearly a year of losses caused by the coronavirus. Entrepreneurship is growing at a record pace in 2021, with more than 4.6 million new business applications filed through October 2021, according to business formation statistics from the United States Census Bureau. So, what happens in 2022 for small business owners? Will supply chain problems be easy? Will the recruitment be picked up? And what is available for business loans in the absence of the Small Business Administration’s two main COVID-19 assistance programs?
Technology is Bridging the Employment Gap
Small business owners will flock to business technologies that allow them to do more with fewer employees. This may mean more table booking and checkout technology in bars and restaurants and more self-payment options for retail customers. QR code menus in restaurants persist, even if COVID-19 precautions fail. Many restaurants have found that digital menus allow them to update items and prices more easily, as they don’t have to reprint the menu each time. They also allow the restaurant to function with a smaller front-of-house staff.
Business Loans Increase, Community Banks Lead
Small businesses can expect more access …