The pandemic shook up the business world, which required businesses to adapt quickly. We can learn some key lessons from the past year, and I advise businesses, particularly startups, to keep the following in mind when planning for 2022.

First, controlled growth in 2022 is key. Businesses planning to grow need to be wary of how much they invest in expansion. If they plan their growth too quickly, they could easily run out of money. Steady and sustainable growth is strategic growth.

The pandemic has changed the business environment and accelerated the value of digitisation - businesses need to invest in digitisation to be adept to future online challenges. Every business should now see themselves as a software business where possible, and if they can’t adapt to the new digital environment, they will struggle to succeed in the long term. Investing in digitisation will present opportunity and possibility.

Businesses looking to invest in infrastructure over the next year must be wary of the changing market. They shouldn’t look to buck the trend in a transitioning environment but follow the trends - keeping a close eye on the latest global issues, market conditions and consumer consumption habits.  

In a transitioning business environment, monitoring trends is a smart way to identify risk early and introduce the right mitigation steps to prevent future disruptions. This will help businesses to become more efficient and able to take advantage of opportunities when they arise.

One trend I expect to continue as we move into the new year is a conscious effort to place sustainability at the heart of businesses. Following COP26, there has been an increased focus on how specific industries and markets can make strides towards a sustainable future. We are already seeing the impact of this from a regulatory standpoint, as the EU include sustainability conditions within its €750bn COVID recovery fund.

Consumer behaviours are also changing. According to Kantar data, shoppers who are highly concerned about the environment and are making the most of actions to reduce their waste, are on the rise. Consumers expect businesses to be more sustainable which is why understanding how sustainability fits within your business’ brand and how it aligns with its principles, could be the key to success.

Moving into the new year, my advice to startups in the UK is to grow steady and sustainably, technology is an ally – use it to digitise your business, green is good, and keep a close eye on trends that can impact your business.