Small and medium businesses have to keep up with the latest trends to grow and thrive in an ever-changing world. Here are five of the biggest startup trends for 2021 and how SMBS can learn from them.

Many startups are building products using no-code or low-code platforms, which offer a more visual way to create apps and websites. These platforms allow them to get off the ground quickly and develop software that meets their needs even without any programming knowledge.

Just like a startup, you can use no-code or low-code platforms to build a prototype of your idea or grow your business. For instance, Webflow and Bubble feature drag-and-drop interfaces for creating a simple website or a complex e-commerce store — complete with cart, checkout, payment, and shipping functionalities.

Companies such as Airbnb and Uber are pioneers of the sharing economy. While it isn’t a new trend, the sharing economy has expanded into new industries and has seen growth in the midst of the COVID-19 crisis, sparking innovative solutions to pandemic-laden problems. For example, cloud kitchens such as Smart City Kitchens offer spaces for food delivery enterprises, enabling them to continue operating despite disruptive events such as the COVID-19 pandemic and service customers they would otherwise not cater to at a physical restaurant.

Consider how your business could benefit from the sharing economy, such as through a partnership that streamlines the delivery of your products or services.

Consumers are putting a higher value on simple and convenient service, and startups are taking notice. Eyewear startups Foptics and Monocle are employing a direct-to-consumer approach to deliver prescription glasses straight to people’s homes. Everything is done online — from selecting a frame and lens to entering a prescription. Meanwhile, Two of a Kind offers a subscription service for contact lenses, allowing customers to change, pause, or cancel their subscription anytime.

SMBs can follow in the footsteps of startups when it comes to convenience and simplicity. Some ideas include fast or free shipping, different channels for customer service (chat, email, phone, social media), online booking for appointments and reservations, and optimising the online and mobile shopping experience.

Companies are turning to personalised products and customised services to stand out from the crowded startup space. The idea is to offer something unique that cannot be purchased anywhere else.

As a business, think of ways to further personalise or customise your offerings. It doesn’t need to be elaborate — it can be as simple as allowing customers to choose from a colour palette or offering a gift option. You might need to raise your prices a bit, but people could be willing to pay a premium for a personal touch.

The pandemic accelerated the switch to remote work, and many startups were nimble enough to adapt to a new way of working. But they also realised location isn’t as important anymore — they can use cloud computing and other technologies to cater to customers outside their geographic area. 

SMBs can take advantage of the reduced focus on physical location and consider how they can broaden their reach. You can start small, looking into how you can expand to another town. Or a certain demographic in another region might benefit from the products or services you offer. The possibilities are endless.