Small Businesses Find Opportunities in Midst of Pandemic

In December 2020, we surveyed nearly 800 managers and senior managers at small businesses with 2-250 people in the United States to learn more about how COVID-19 may have impacted their operations. We found that, despite the challenges that COVID-19 brought to the small business population surveyed --including making it difficult to plan, making it difficult to get customers to buy or commit and hindering growth plans -- many of these businesses realized positive impacts, with the majority saying it helped them identify new business opportunities, new services for their customers and new product offerings.

“Small businesses have shown their resilience in the face of one of the most volatile years in recent history. Despite funding challenges, disruptions to planning and government imposed shut downs, confidence remains high that they can withstand the effects of the pandemic,” said Joe Pascaretta, General Manager of Global Small Business for Dun & Bradstreet. “Companies who were able to pivot their business models are even realizing opportunity amidst the chaos.”

As small businesses look to the future, they have an opportunity to reimagine what their strategy looks like and to prepare for ebbs and flows in the market,” said Pascaretta. “By being nimble, keeping an accurate business credit profile, and using technology and data to streamline processes, we see how small businesses can withstand even the most challenging of years.”
Joe Pascaretta, General Manager of Global Small Business , Dun & Bradstreet
 

Methodology

Survey was conducted by Censuswide on behalf of Dun & Bradstreet between December 10, 2020, and December 17, 2020. Survey respondents included 758 managers/senior managers in companies with two to 250 employees, in the manufacturing, retail, professional services, construction, and financial services sectors in the United States.

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