The new normal is an expression many in the business world are using these days but few can define just what will be. One organization that has given that assignment a try is BDC.
The national agency’s chief economist spoke at a Saskatchewan Economic Developers webinar Wednesday. Pierre Cleroux said they have identified three trends that will play a powerful role in shaping what the new normal will look like in the days after vaccines have been administered to the bulk of the population.
First, he says, the trend to on-line business was happening long before COVID but the pandemic caused the transition to accelerate and will continue to gain momentum. Businesses wanting to survive in the future will have to up their on-line game in terms of improved website content and social media.
Second, working from home is here to stay. We peaked with more than 80% of employees working remotely but he expects it will level out around 60% in the future.
And finally half of entrepreneurs have told BDC they plan to invest in new technology in the next 3 years in order to remain competitive.