The past three months of lockdown in the UK have transformed the way UK SMEs manage and run their business at every level. Immediate changes to how millions work left many bewildered at a new way of remote working, but after 3 months of transition many how settled in to the new routine and would prefer to work from home indefinitely.
A recent study found that 56% of workers feel more productive at home than they did in the office and a third will look to work from home on a daily basis in future.
In addition, thousands of businesses have started cutting back on their expensive overheads including office spaces and permanent staff. As UK SMEs look to leave lockdown, it will become clear whether these are just temporary measures or if they become a permanent part of the future of business.
Justin Small, Founder of The Future Strategy Club - discusses the major impacts on businesses at every level so far:
"This period has highlighted some of the unnecessary expenses and processes that businesses have perpetuated over the last few years. In the world of business normally, what we have achieved in the past two or three months would have taken years of planning and fives years to implement. Lockdown has shown that innovation can, and should, be much faster than this.
Businesses will, in future, realised that they don't need that expensive office in Shoreditch to be innovative when remote and flexible working works as well as that. They won't need to employ a CMO on £100,000 a year with a huge office when a consultant working two days a week is more than enough resource.
Wasteful overheads not only reduce profits but also make a firm less competitive. Big firms with giant offices in Canary Wharf have to maintain thousands of metres squared which is all paid for by their clients - whether they realise it or not. "