How work-from-home is creating new challenges for small businesses

Published on July 22, 2020

Coronavirus induced work-from-home is changing the way small businesses operate. Industries as diverse as real estate, facilities management, office supplies, software and telecom have seen their markets dramatically change over the last three months. Small businesses in these industries need to adapt and transform to keep growing.

Louisville, KY – July 22, 2020 – HiveDesk, a leading time tracking software for remote and work-from-home employees, surveyed over small businesses in the US to identify the impact of working from home.

The Covid-19 crisis has forced most businesses to work from home. It has pushed small businesses to adapt to an unfamiliar work environment while coping with the economic disruption. The survey covered businesses that employ between 20 and 250 people. The survey asked them how they were coping with the current crisis and how they planned to move forward.

Key findings:

The survey found that most small businesses transitioned successfully from working in an office to working from home. But the changes brought about by this change are having far-reaching impacts on many industries.  

  • Work-from-home is not the future, it’s the present. Many studies over the last 3-5 years have predicted that working from home will the future of work. That future has arrived. 33% of small businesses in the survey said they are not going back to office while another 33% said they will have a lot fewer employees working from office once the pandemic is over.
  • Most of these businesses would not have considered working from home in the past. They are now sold on the concept because they are saving money, employees love it and the productivity is up.
  • This new found love for working from home will lead to a lot of vacant office spaces in the coming months as old leases expire but new tenants don’t step in to fill the gap. Office fixture and furniture suppliers could also see a squeeze on their business in the short term.
  • Industries like office supplies and telecom services that sold to and serviced a central location will be forced to supply to employees’ homes and compete with the likes of Amazon for individual orders.
  • Small businesses are investing in communication, collaboration and time tracking software at an accelerated pace. These tools are key enablers of work-from-home.

Read the full report on how small businesses are doing to keep growing and stay ahead of competition.

Company Name: HiveDesk
Contact Person: Vishal Srivastava
Phone: +1 855-448-3555
Country: United States