Could the pandemic spark a digital boom? Experts say it's already here

Welcome back to #FoodForThought, a newsletter serving up food for your brain — exploring news headlines, economic trends and workforce issues. Below, you’ll find insights from small business show #TogetherInBusiness and a spotlight on technology. Hit subscribe above to be notified of future editions and share your thoughts in the comments.

As Australia’s small businesses fight to survive the economic impact of the coronavirus crisis, a quarter of firms have reinvented or repositioned their business online, according to a Westpac survey. 

Examples include:

• The real estate agent offering virtual property tours.
• The bricks and mortar gift shop setting up an online store.
• The family business adopting video technology, and tools to track workflow.
• The cafes, restaurants and hospitality venues partnering with delivery service providers.

While most small businesses had embraced digitisation before the crisis hit, as one member writes on LinkedIn: “The pandemic brought about this shift for us faster than anticipated.”

With Australians forecast to spend $35.2 billion in online transactions by 2021, the government has updated its national cybersecurity policy to make SME protection a $63 million priority.

Is Australia on the wave of a digital boom? How can small businesses maximise their digital transformation? And is there a danger of some being left behind, due to a gap in skills or resources?

This week on #TogetherInBusiness, Telstra CEO Andrew Penn, online subscription service Coffee Selectors’ Jessica Sullivan and Fiverr's Natasha Shine-Zirkel joined me to discuss what’s next in Australia’s digital roadmap. Together we covered:

• How small businesses have adopted technology during the pandemic; the challenges and the successes.
• How SMB owners should prioritise their resources, both financial and time, when it comes to going digital.
• Cybersecurity and the steps firms can take to protect their assets and customers.
• The future of Australia’s digital economy and how to prepare for it. 

 Watch: Together In Business in full above

Latest Conversations 

As business groups ramp up pressure on Victoria's state government to offer a detailed roadmap to reopening the state’s economy, Premier Daniel Andrews is contemplating the use of "workforce bubbles".

Commonwealth Bank is looking to reduce workers’ sick leave in favour of “life leave”. 

At the height of the coronavirus pandemic, more women's roles were made redundant than men's, and women who retained employment worked less hours, according to official statistics. 

Although the pandemic has had a catastrophic impact on commercial airlines, it has proven to be a boon for one sector: private jets. 

Feel like ordering pizza tonight? A Brisbane-made artificial intelligence already knows.

Resources for your business:

• How Treasury is supporting small businesses.
• Income support for sole traders
• The Australian Small Business and Family Enterprise Ombudsman My Business Health portal.
• Information, grants and assistance state-by-state.
• COSBOA COVID-19 small business quick links.
• The Australian Chamber of Commerce and Industry's employer help guide.

Spotlight on: The juggling act

My mum once shared this image with me, during a particularly busy time.

I’ve thought about it often during the pandemic as the LinkedIn News team has sought to report on the juggle of WFH, lockdown and family that many business owners and professionals are facing during the crisis.

The pandemic is a marathon, not a sprint. The problem is that we don’t know where the finish line is. Now in month umpteen of work from home, educate from home, telehealth, separated from loved ones etc our surge capacity has become depleted, writes Tara Haelle. What’s ‘surge capacity’ you ask? 

“Surge capacity is a collection of adaptive systems — mental and physical — that humans draw on for short-term survival in acutely stressful situations, such as natural disasters.”

Together In Business: Out of Hours

Join LinkedIn News Australia on Tuesday at 2pm AEST for a new edition of #TogetherInBusiness; a weekly LinkedIn Live show talking about the issues that matter to small business owners and their employees. 

Each week, we'll hear from business experts on topics like finances, resilience and entrepreneurship. 

Next time: Boost Juice founder Janine Allis and corporate wellness expert Bec Mitchell join me to discuss navigating home and worklife (and all the bits in between) during the pandemic, and answer your questions live.

We want to hear from you. What are some of the challenges you’ve faced during the pandemic? What benefits has WFH had on your lifestyle? What’s your routine for switching off at the end of the day? What have you learned about yourself as a professional, partner or parent during the crisis?

Share your thoughts, queries and questions in the comments below and we’ll answer them in next week’s show.

Watch #TogetherInBusiness LIVE Tuesday at 2pm AEST. Follow LinkedIn News Australia to receive a notification when we go live.

Something for you

Each week, I try and end on something to make you smile and think:

• Work can easily feel like an endless competition, but it doesn't have to be that way. Here’s how to avoid falling into the jealousy trap at work. 
• Dreaming of wonderful outcomes — landing a coveted promotion, reaching a long sought professional milestone — can feel great. Experts share these tips to ensure we’re still doing the tough work to achieve our goals. 
• Most of us have been told at some point to follow our passion as we pursue a career — but what does that actually look like? Writer and activist Baratunde Thurston breaks it down. 

Additional reporting by: Cayla Dengate, Andrew Murfett, Kelli Nguyen, Scott Olster, Capucine Yeomans

(Photo credits: Getty Images)