The nanobusiness sector is particularly important to global economic recovery post COVID-19 and to the recovery of households. This is because it provides opportunities for individuals to monetise their skills, time and resources – adding much-needed additional income to households. When households are able to pay down debt and feel the confidence to begin spending again, this will stimulate the wider economy. That is just one reason why nanobusinesses are the catalyst for economic recovery.
Four sets of workers in particular will benefit from the nanobusiness opportunity:
- The unemployed – providing opportunities to get them working again.
- The underemployed – helping them fill up their spare time to make more income.
- The flexitarians – workers that are seeking more flexible working arrangements because of their domestic or life circumstances. This might be because they need to look after children or elderly relatives, or because they aspire to be semi-retired, or because the time they have available to work is periodic (for example, students).
- The shortfallers – because it provides additional income to households that have fallen into debt or who are living paycheck to paycheck and struggling to make ends meet.
The opportunity for B2B telecoms service providers is to support these workers by providing the services they need to engage in this vital sector. At a simplistic level this is connectivity, but depending on the type of nanobusiness there are a wide variety of value-added services that such workers need. Monetising this opportunity, however, requires telecoms service providers to be able to understand and target the opportunity accurately.