The more successful small businesses are, the easier it’ll be for the economy to recover in the wake of COVID-19. As you know, many businesses have already closed their doors permanently or are going to close because of COVID-19. This article is about how brands can support small business recovery during these challenging and unusual times, as well as about the best credit card processing reviews in the U.S.
Credit Card Processing Reviews & Business Recovery From COVID-19
Based on a 2019 report, the U.S.-based small businesses represented 44% of all economic activity during 1998 – 2014. Mary Kay Bowman, Global Head of Visa Inc.’s Buyer and Seller Solutions, notes that the world won’t be able to get back on the track until small businesses do.
Now, when the global economy is facing the hardships related to COVID-19, it’s no surprise that all the sectors of the economy feel the huge impact of the crisis. By the way, small businesses have been hurt hardest by the novel coronavirus.
As a result, small businesses are working hard to get out of the crisis. Digitalized operations, new business models and new revenue channels are among the main aspects businesses are focused on.
The current challenges in the global economy, once again highlight the importance of working with only true payment experts that can help you keep your business afloat. For this, you just need to apply to a trustworthy payments comparison specialist dedicated to offering the most reliable credit card processing reviews.
How Brands Can Support Business to Recover
Based on a new survey, 56% of consumers are welcoming brands’ efforts aimed at helping communities to navigate COVID-19-related difficult times. Here’s how brands can help businesses in this regard:
- Understanding the needs of small business owners.
- Creating additional opportunities. E.g., Airbnb has launched Airbnb Online Experiences for the hosts to establish a business and earn revenue via Airbnb’s platform.
- Offering solutions to real problems by fully aligning with both marketing and business strategy.
- Helping small business owners with financial statements and how these statements can serve as a tool for business management.
As you see, partnerships are critical to your small business’ success in the wake of COVID-19. Brands can soften the blow from the COVID-19-related crisis, thus enabling them to survive and thrive.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of credit card processing reviews. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie on his backyard porch, as should all right-thinking people.