{"id":51157,"date":"2019-05-20T19:04:00","date_gmt":"2022-10-18T19:04:39","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=51157"},"modified":"2022-10-24T20:44:08","modified_gmt":"2022-10-25T03:44:08","slug":"3-highlights-from-the-smb-trends-report-for-growing-small-businesses","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/au\/blog\/3-highlights-from-the-smb-trends-report-for-growing-small-businesses\/","title":{"rendered":"3 Highlights From the SMB Trends Report For Growing Small Businesses"},"content":{"rendered":"\n<p>Great news for any small business looking to get ahead: <a href=\"https:\/\/www.salesforce.com\/au\/form\/pdf\/2019-small-business-trends-report?d=7010M000002N3OiQAK&amp;nc=7010M000002N3OdQAK\" target=\"_blank\" rel=\"noopener\">Salesforce Research has just released the Third Edition Small and Medium Business Trends Report<\/a>, sharing data and observations from more than 2000 small and medium businesses (SMB) owners and leaders from around the world. The research digs into the <a href=\"https:\/\/www.salesforce.com\/au\/blog\/2018\/10\/the-secret-to-successfully-managing-change-in-your-small-busines.html\" target=\"_blank\" rel=\"noopener\">challenges and goals<\/a> of SMBs, analyses how demographics shape the SMB experience, and covers the role of technology in satisfying customer expectations.<\/p>\n\n\n\n<p>Which challenges are daunting for small business leaders? How do SMBs use technology to meet customer expectations? Here are three small business insights we found especially telling.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-it-s-still-more-difficult-for-women-to-raise-funds-than-men\">It\u2019s still more difficult for women to raise funds than men<\/h4>\n\n\n\n<p>The data shows women still have a harder time&nbsp;<a href=\"https:\/\/www.salesforce.com\/au\/blog\/2017\/02\/how-to-secure-funding-for-your-startup-business.html\" target=\"_blank\" rel=\"noopener\">raising venture funds<\/a>&nbsp;than men: 62% of women report that access to funding is one of the biggest obstacles they face (versus 57% of men). Female SMB leaders indicate accessing capital is their most prominent challenge, while male leaders say their leading challenge is hiring the right talent.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure data-wp-context=\"{&quot;imageId&quot;:&quot;69e7e18108423&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69e7e18108423\" class=\"aligncenter is-resized wp-lightbox-container\"><img loading=\"lazy\" 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-top-business-constraint-gender-in-text.jpg?strip=all&#038;quality=95\" alt=\"Infographic and Statistics \u2014 Top Business Constraints by Gender\" width=\"678\" height=\"322\"\/><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><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-reasons-for-starting-a-business-vary-across-generations\">Reasons for starting a business vary across generations<\/h4>\n\n\n\n<p>Also of note: The top reason SMB leaders start a business is that they want to be their own boss (55%). However, the reasons for starting a business tend to align with age. Compared with baby Boomers and traditionalists, millennials and Gen Zers are more likely to start businesses so they can pursue an idea they\u2019re passionate about, earn supplemental income or escape a hostile work environment.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure data-wp-context=\"{&quot;imageId&quot;:&quot;69e7e18109460&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69e7e18109460\" class=\"aligncenter 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-business-motivations-age-full-size.jpg?strip=all&#038;quality=95\" alt=\"Infographic and Statistics \u2014 SMB Business Motivations Age Full Size\"\/><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><\/div>\n\n\n\n<p><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-smbs-aren-t-intimidated-by-ai\">SMBs aren\u2019t intimidated by AI<\/h4>\n\n\n\n<p>How do small businesses feel about artificial intelligence (AI)? Our research indicates that AI has truly&nbsp;<a href=\"https:\/\/www.salesforce.com\/au\/blog\/2018\/08\/ai-for-small-business--its-a-game-changer.html\" target=\"_blank\" rel=\"noopener\">become a competitive advantage for growing companies<\/a>&nbsp;in 2019. Nearly half (46%) the SMB owners surveyed believe their businesses are ready to use AI. Perhaps the positive sentiment signifies these small businesses both see the benefits and are less daunted by the growing software trend.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure data-wp-context=\"{&quot;imageId&quot;:&quot;69e7e1810a479&quot;}\" data-wp-interactive=\"core\/image\" data-wp-key=\"69e7e1810a479\" class=\"aligncenter 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-ai-readiness-revenue-growth-full-size.jpg?strip=all&#038;quality=95\" alt=\"Infographic and Statistics \u2014 AI Readiness by Revenue Growth\"\/><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><\/div>\n\n\n\n<p>If you\u2019re looking to grow a business&nbsp;<a href=\"https:\/\/www.salesforce.com\/au\/form\/pdf\/2019-small-business-trends-report?d=7010M000002N3OiQAK&amp;nc=7010M000002N3OdQAK\" target=\"_blank\" rel=\"noopener\">check out the Small and Medium Business Trends Report<\/a>. Find out about new technology trends and see what factors help set your small business up for growth.&nbsp;<\/p>\n\n\n<aside class=\"contextual-driver has-text-align-left\">\n\t<header>\n\t\t<h2 class=\"tidbit-head\">\n\t\t\tSmall and Medium Business Trends Report\t\t<\/h2>\n\t<\/header>\n\t<div class=\"tidbit-body\">\n\t\t<p>Set your #smallbiz up for growth. See the latest trends for 2019<\/p>\t<\/div>\n\t\t\t<p class=\"tidbit-link label\">\n\t\t\t<a class=\"label has-right-arrow has-right-arrow--small\" href=\"https:\/\/www.salesforce.com\/au\/form\/pdf\/2020-small-business-trends-report\/?d=7010M000002N3OiQAK&#038;nc=7010M000002N3OdQAK\" target=\"_blank\">\n\t\t\t\t<span>Get Report<\/span>\n\t\t\t\t\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 14 10\"><path d=\"M13.92 5.38a1 1 0 0 0 0-.76.9.9 0 0 0-.17-.26.3.3 0 0 0 0-.07l-4-4a1 1 0 0 0-1.46 1.42L10.59 4H1.07a1 1 0 0 0 0 2h9.52l-2.3 2.29a1 1 0 0 0 0 1.42 1 1 0 0 0 1.42 0l4-4a.3.3 0 0 0 0-.07.9.9 0 0 0 .21-.26\" \/><\/svg>\n\t\t\t<\/a>\n\t\t<\/p>\n\t\t\t\t<img class=\"tidbit img-einstein\"\n\t\tsrcset=\"\n\t\t\thttps:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@0.5x.png 84w,\n\t\t\thttps:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@1x.png 168w,\n\t\t\thttps:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@2x.png 336w\n\t\t\"\n\t\tsrc=\"https:\/\/www.salesforce.com\/au\/blog\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@1x.png\"\n\t\talt=\"Illustration of einstein\"\n\t\tsizes=\"(min-width:1024px) 175px, 130px\"\n\t>\n\t<\/aside>\n\n","protected":false},"excerpt":{"rendered":"<p>Sharing data and observations from more than 2000 small and medium businesses owners and leaders from around the world.<\/p>\n","protected":false},"author":1,"featured_media":51159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sf_justforyou_enable_alt":true,"optimizely_content_id":"a41e8521a3614533b78708cbcae5dd57","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":[2502,2472],"sf_content_type":[],"coauthors":[2454],"class_list":["post-51157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","sf_topic-automation","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>3 Highlights From the SMB Trends 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