Our thinking

Put your money where the word of mouth is

14 August, 2020

2020 has readjusted many people’s priorities and created multiple gaps in demand for services. With many people having found themselves on furlough or out of a job, side-hustles have become more prevalent during the pandemic. 

From turning a cycling hobby into a door-to-door bike repair service, to selling baked-goods for NHS donations, to virtual personal chefs catering to the increased levels of home-cooking, many so-called ‘microbusinesses’ have popped up in recent months. Great proof of the old saying that word of mouth is the best form of marketing. Extra time has given a lot of people the opportunity to make the most of their skills and try new things, whilst helping others.  

Small ventures may also have a wider role to play as they improve the resilience of local economies by providing new services for local communities, whilst supporting individuals’ incomes during times of uncertainty.  

At a time when small businesses have arguably been impacted the most by the pandemic, compared to large organisations whose cash reserves have been able to see them through for the most part, their main advantage is agility and being ready to respond to changing demands. Small and even micro companies are, and will be, an important part of our economic recovery post-pandemic, so supporting them is a great way to do your bit.

By Cara McEvoy