{"id":49122,"date":"2021-09-14T17:23:00","date_gmt":"2022-10-18T17:23:38","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=49122"},"modified":"2022-10-27T17:27:31","modified_gmt":"2022-10-28T00:27:31","slug":"new-research-how-small-businesses-are-turning-todays-challenges-into-tomorrows-resilience","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/au\/blog\/new-research-how-small-businesses-are-turning-todays-challenges-into-tomorrows-resilience\/","title":{"rendered":"How Small Businesses Are Turning Challenges Into Resilience"},"content":{"rendered":"\n<p>As a former small business owner, I know how painful it can be when your business \u2013 and therefore your livelihood \u2013 hits turbulence. And that was <i>before<\/i> a pandemic, a time of unprecedented challenge. But SMBs have responded with ingenuity and tenacity.&nbsp;<\/p>\n\n\n\n<p>That\u2019s one reason I\u2019m excited to debut the fifth edition of our<a href=\"https:\/\/www.salesforce.com\/au\/resources\/research-reports\/smb-trends\/?d=7013y000002lQjVAAU&amp;nc=7013y000002lQjLAAU\" target=\"_blank\" rel=\"noopener\"> Small and Medium Business Trends Report<\/a>, a survey of over 2,500 SMBs conducted by The Harris Poll. The findings reflect this ingenuity and adaptability, with 89% of SMBs moving a portion of their operations online over the past year and 63% saying they\u2019ve made operational changes in the past year that they expect to provide long-term benefits.<\/p>\n\n\n\n<p>To be sure, the results reflect ongoing challenges. However, along with trends that should inspire hope and optimism, they also reveal differences between stagnant or declining SMBs and growing SMBs (in other words, those that are experiencing revenue growth). These are crucial insights into how to strengthen and <a href=\"https:\/\/www.salesforce.com\/au\/solutions\/small-business-solutions\/win-customers\/\" target=\"_blank\" rel=\"noopener\">grow your own business<\/a>.<\/p>\n\n\n\n<p>So let\u2019s take a look at what we found.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"local-communities-step-up-while-smbs-prioritise-customer-needs\">Local communities step up while SMBs prioritise customer needs<\/h2>\n\n\n\n<p>More than one-third of Australian and New Zealander SMBs say local communities\u2019 financial support has been vital to their businesses\u2019 survival.&nbsp;<\/p>\n\n\n\n<p>SMBs don\u2019t appear to be taking that support for granted. Many say they\u2019re taking steps to cater to customer needs and build trust during the pandemic, such as improving flexibility and communication. Over half have increased their presence online and a massive 89% have moved operations online in the past year, listing their number one reason as a desire to serve customers safely.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d049e16d7b3&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d049e16d7b3\" class=\"wp-block-image wp-lightbox-container\"><img decoding=\"async\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2022\/10\/SMB-Trends-2021-Customer-interactions.png?strip=all&#038;quality=95\" alt=\"How SMBs' customer interactions have changed since the onset of the pandemic. Download the 5th Ed. Small and Medium Business Trends report to find out m ore.\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<p>Still, customer engagement challenges linger. SMBs say their biggest hurdles are bringing innovative offerings to market, keeping up with demand and responding to enquiries quickly.&nbsp;<\/p>\n\n\n\n<p>Embracing a digital-first world comes with its own risks and requirements for building trust, which means SMBs are increasingly turning their attention to better security. Many are using cloud-based technology for data backup and protection, regular application updates, and password managers for stronger passwords.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"employee-needs-take-centre-stage\">Employee needs take centre-stage<\/h2>\n\n\n\n<p>SMBs aren\u2019t just looking to deepen trust with customers. After many faced rough periods of furloughs or uncertainty, and perhaps with more SMBs recognising the role that employee engagement plays in customer experience, respondents say they\u2019re prioritising employee needs.<\/p>\n\n\n\n<p>This includes building trust through transparency and two-way communication.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.salesforce.com\/au\/resources\/research-reports\/smb-trends\/?d=7013y000002lQjVAAU&amp;nc=7013y000002lQjLAAU\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2022\/10\/SMB-Trends-2021_Employee-trust.png?strip=all&#038;quality=95\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p>Flexible schedules topped employees\u2019 expectations \u2013 an expectation that growing SMBs were more likely to meet. These expectations may be impacting <i>where<\/i> work will occur in the future. While 53% of respondents in Australia and New Zealand say they foresee working from a physical location, 29% expect to work in hybrid or remote environments.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"growing-smbs-continue-to-invest-in-technology\">Growing SMBs continue to invest in technology<\/h2>\n\n\n\n<p>We know that SMBs have been leaning into technology to protect customers\u2019 safety and improve convenience. The vast majority of SMBs moved at least some of their operations online during the past year, with half saying they\u2019ve moved 51-100% of their operations online and 16% saying they\u2019ve adopted a <a href=\"https:\/\/www.salesforce.com\/au\/solutions\/small-business-solutions\/overview\/\" target=\"_blank\" rel=\"noopener\">customer relationship management (CRM) system<\/a> in the last 12 months.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.salesforce.com\/au\/resources\/research-reports\/smb-trends\/?d=7013y000002lQjVAAU&amp;nc=7013y000002lQjLAAU\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2022\/10\/SMB-Trends-2021_Online-operations.png?strip=all&#038;quality=95\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p>Continuing a trend from last year\u2019s research, investing in and leveraging technology were differentiators between SMBs who are growing and those who aren\u2019t. More than half (57%) say they would not have survived the pandemic if they had been using technology from a decade ago.<\/p>\n\n\n\n<p>But what sort of technology are they prioritising? The findings show that growing SMBs are significantly more likely to invest in technology for customer service, sales, marketing and IT operations.<\/p>\n\n\n\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;69d049e16f1d7&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69d049e16f1d7\" class=\"wp-block-image wp-lightbox-container\"><img decoding=\"async\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on--click=\"actions.showLightbox\" data-wp-on--load=\"callbacks.setButtonStyles\" data-wp-on-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/uploads\/sites\/4\/2022\/10\/SMB-Trends-2021_Tech-use.png?strip=all&#038;quality=95\" alt=\"Growing SMBs use technology more than stagnant\/declining SMBs. Download the latest Small and Medium Business Trends report to find out more.\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"growing-smbs-embrace-permanent-change\">Growing SMBs embrace permanent change<\/h2>\n\n\n\n<p>After prolonged uncertainty and challenge, many SMBs are finding they\u2019re more efficient than ever. Here in Australia and New Zealand, 63% of SMBs believe the changes they\u2019ve made to their business operations will benefit them long-term. Sixty-nine percent plan to make changes permanent, especially secure digital payments, digital customer service and e-commerce.&nbsp;<\/p>\n\n\n\n<p>They\u2019re also looking beyond immediate challenges. Sixty-four percent have created scenario plans to prepare for future crises, an action that was more likely to be taken by growing SMBs.<\/p>\n\n\n\n<p>There will no doubt be further challenges and disruptions, but SMBs are responding to adversity by becoming stronger, more efficient, more resilient. As savvy SMB leaders prioritise solutions and relationships that fortify their businesses, they\u2019ll be well-equipped to weather whatever may come their way.<\/p>\n\n\n\n<div class=\"layout-one wp-block-salesforce-blog-offer\">\n\t<div class=\"wp-block-offer__wrapper\">\n\n\t\t<div class=\"wp-block-offer__content\">\n\t\t\t<h2 class=\"wp-block-offer__title\">Want to dive into the full results?<\/h2>\n\t\t\t\t\t\t\t<p class=\"wp-block-offer__description\">Download the 5th edition Small and Medium Business Trends Report.<\/p>\n\t\t\t\n\t\t\t\t\t\t\t\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.salesforce.com\/au\/resources\/research-reports\/smb-trends\/?d=7013y000002lQjVAAU&amp;nc=7013y000002lQjLAAU\" target=\"_blank\" rel=\" noopener\">Download now<\/a><\/div>\n\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"wp-block-offer__media\">\n\t\t\t\t\t<\/div>\n\t<\/div>\n\n\t\t\t<div class=\"wp-block-offer__graphics wp-block-offer__contour\"><\/div>\n\t\n\t\t\t<!-- Standard Illustration -->\n\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__illustration\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-illustration-layout-one.png\" alt=\"\">\n\n\t\t<!-- Small Accent Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__accent\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-accent-layout-one.png\" alt=\"\">\n\t\t\n\t\t<!-- Left Side Illustration -->\n\t\t\n\t\t<!-- Cloud Illustration -->\n\t\t\t\t\t<img decoding=\"async\" class=\"wp-block-offer__graphics wp-block-offer__cloud\" src=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/salesforce-blog\/dist\/images\/offer-block\/offer-cloud-layout-one.png\" alt=\"\">\n\t\t\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Now that we\u2019re more than 18 months into a world with COVID-19, what can new research tell us about the path forward for SMBs?<\/p>\n","protected":false},"author":1,"featured_media":49124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sf_justforyou_enable_alt":true,"optimizely_content_id":"66192ab9707a4388ab2ac3fc08546653","post_meta_title":"","ai_synopsis":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"sf_topic":[2462,2472],"sf_content_type":[],"coauthors":[2533],"class_list":["post-49122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","sf_topic-research","sf_topic-small-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Small Businesses Are Turning Challenges Into Resilience | Salesforce<\/title>\n<meta name=\"description\" content=\"Now that we\u2019re more than 18 months into a world with COVID-19, what can new research tell us about the path forward for SMBs?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.salesforce.com\/au\/blog\/new-research-how-small-businesses-are-turning-todays-challenges-into-tomorrows-resilience\/\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Small Businesses Are Turning Challenges Into Resilience\" \/>\n<meta property=\"og:description\" content=\"Now that we\u2019re more than 18 months into a world with COVID-19, what can new research tell us about the path forward for SMBs?\" \/>\n<meta property=\"og:url\" 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