Running a Business in the Modern World

June 17, 2020 9:57 am

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When it comes to running a company, the last 20 years have seen some enormous changes and financial hardships to endure. Times have certainly been turbulent. From the financial crash in 2008, to Brexit in 2016, to the current global pandemic – the economy has certainly taken a battering and repeatedly put businesses in uncharted waters and difficult times.

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Alongside this, technology has evolved a massive amount and the way that consumers shop for goods, use services and make purchases has also changed hugely over the last two decades. The UK high street as it was during the 90s has been in decline for years now, with many shops permanently shutting up shop and heading into cyberspace to sell their goods. Year after year we see Christmas shopping trends, with many more people doing their festive purchases online.

For businesses to succeed, the majority of them have had to adapt quickly to this changing business world. From using social media and SEO training to making their websites a better customer experience, businesses who are doing well have mastered the art of selling online.

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The current situation with the global pandemic, has seen many businesses come under huge financial pressure, thousands of jobs have been lost and many businesses have closed their doors for good. But others have harnessed the power of the internet and adapted their business to be able to fit in with the situation and weather the storm – from pubs offering takeaway food and drink services, to shops setting up online delivery options, it has shown the world that the future of business is online.