Trending market patterns, growing consumer demands, and establishing a competitive edge against the big businesses in the market has always been a challenge for small businesses (SMBs). With the economy trying to recover from the recent pandemic-driven recession, SMBs are predicted to foresee higher challenges up ahead. According to a recent report by ZDNet, "Small business tech outlook: Here are the challenges and opportunities ahead", inflation increased by 2.47% worldwide and is posing a challenging for SMBs. As a result, small businesses are scrambling to up their game by offering unique customer services, improved customer relations, and increased operational efficiency. Choosing the right software or a technology solution is crucial with many vendors out in the market, offering more or less the same features.

The coronavirus outbreak forced companies around the world to adjust to a new reality that is itself still under construction. Although economies are timidly reopening, they do so while keeping an eye on the epidemiologic evolution to shape accordingly. And even though the future is still unknown, one thing is sure: as people adjust to this "new normal", where the most mundane activities move to the online sphere, technology adoption will continue to skyrocket. This poses opportunities for businesses to develop new digital strategies and even find new business streams. Still, it also entails a few challenges and risks that executives should keep in mind.