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/Business
GETTING BACK TO LOCAL IN 2022
One of the biggest trends of 2022 is "getting back to local" and creating an abundance revolution for your business. Lockdowns, forced business closures, and restricted movement has been an unexpected nightmare for creatives, entrepreneurs, and business owners. Businesses have had to get creative and find new ways of making money. Whether that be online, offline, or a hybrid mix of both, doing something 'different' has been an imperative.
depression or simply put the 'Covid years'. Staying afloat and avoiding pitfalls has been an acquired talent of survival, and some businesses just simply haven't made it through.
Being flexible, practical, and willing to pivot and change mid-stream has either been the best thing ever, or the final nail in the coffin for some.
A recent Bank of England report found that a third of UK’s small businesses were classified as highly indebted with debt levels of more than 10 times their cash balances, compared with 14% before Covid-19.
Certainly, If you stay in business long enough experiencing an economic downturn and shift in the market is a reality that can never truly be escaped.
In the US, the picture is as equally bleak. It is estimated that 99.9% of all businesses in the U.S. qualify as small businesses.
Over the years we have been challenged with austerity, Brexit and now the Covid
Compared to pre-pandemic levels the US has seen 34% of small businesses close. This
