The latest episode of our Make Business Better livestream
The first year and a half of the pandemic hit small businesses especially hard, with the worst impact falling on those whose income relies on face-to-face contact with customers. What kept many of them afloat — beyond government subsidies — was a massive shift towards digitization, as even companies with no previous online presence began scrambling to open up new, more resilient revenue channels.
A key facilitator of that shift was Facebook $META, through its e-commerce and advertising offerings.
Mendelsohn also highlights one additional trend that arose during the pandemic which she believes will benefit small businesses in the long run: the collapse of the traditional purchasing funnel. Social media ads allow customers to discover new brands and buy from them instantly, helping democratize the market for companies of all sizes.
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