The coronavirus pandemic has wreaked havoc on almost every industry and business, both small and large. While large enterprises have been affected, small ones have suffered the most from the pandemic. All over the world, many small and medium-sized companies were forced to stop their operations, with most of them having to realign to stand a chance of surviving the harsh times. Despite the loans and other packages that the government and other institutions have released, a Wells Fargo survey indicates that small business owners continue to face many financial challenges due to the global pandemic.

 The COVID-19 has wreaked havoc on many businesses globally, both small and large. The majority of small businesses have been left struggling to stay operational, while many others have shut down altogether. The impact of the coronavirus pandemic has led to high health costs, reduced consumer spending, and disruption of the supply chain, all of which have affected businesses adversely. Although the short-term outlook for businesses varies significantly from one industry to another, it is crucial to consider the recovery mode and what your business will look like once things return to normal. Here are things that small businesses need to recover and thrive in 2021.

 Just about a decade or two ago, the internet of things (IoT)- a network of devices or sensors connected to the internet- was an alien term to many. Scholars and researchers only understood it. Fast-forward 2021, IoT is now one of the technologies that almost everyone talks about and is expected to provide businesses with money-saving opportunities and valuable information as more innovative devices link together. The world has now accepted IoT as the future of almost every industry, which will benefit many organizations and individuals. In-home IoT devices such as Alexa, Wi-Fi doorbells, smart thermostats, and smart appliances are becoming common at home. Here are ways in which small businesses can use IoT.