Small and medium businesses (SMBs) are pushing forward after a year of change. Owners and leaders have guided their businesses through an ongoing health crisis, large-scale social change, and a volatile economy. While many have suffered in the pandemic, others have seized entrepreneurial opportunities. As we see in this year’s report, many SMB leaders have successfully adjusted — and even flourished.
In the fifth edition of the “Small and Medium Business Trends” report, we share a snapshot of the latest small business trends — specifically what SMB leaders’ perceptions are today and offer insights into how these have changed.
Here are the major small business trends from 2500+ leaders worldwide:
1. Communities and Governments Step Up
Sixty-seven percent of SMB leaders say community support has been important to their company’s survival.
2. SMBs Transform Employee and Customer Engagement
Seventy-one percent of SMBs say their customers expect online transactions and nearly the same proportion have an ecommerce presence.
3. SMBs Embrace the Digital-First World
More than half of growing SMBs accelerated investments in sales and customer service technology over the past year.
4. SMBs Foresee Long-Term Changes
Seventy-five percent of SMB leaders believe shifts they’ve made to their business operations over the past year will benefit them long-term.
Download the report for more small business trends, and to learn:
Which challenges are still the most daunting for SMBs
How growing SMBs have adapted their operations for success
The state of SMBs, featuring data from 18 different countries
What drives business resilience and growth during a crisis? We asked thousands of global professionals. Read the report.
Thank you for your interest in the Small and Medium Business Trends Report.