Digital transformation: Small businesses face obstacles, opportunities in growing their online presence
The COVID-19 pandemic completely altered consumer behavior and how entrepreneurs operate their businesses in order to successfully reach customers. In an increasingly online world, understanding how businesses build their digital presence and connect with and sell to customers is more important than ever.
In our latest survey on small business digital transformation in the wake of the pandemic, we explored various opportunities, challenges and concerns surrounding small businesses’ website, social media, digital marketing and e-commerce efforts. Underpinning this analysis are economic conditions that are weighing on small businesses in a challenging climate. Although they are largely optimistic, 60% of small businesses report that expenses have increased over the previous three months while revenues and headcount have largely remained flat.
As recent banking closures like the Silicon Valley Bank collapse shake the financial system, Small Business Majority surveyed small business owners and decision-makers around the country to understand their concerns about banking and access to credit.
Clean Slate has many implications on the small business community, which is why it’s critical that policymakers understand their views on this issue. To support this effort, Chesapeake Beach Consulting conducted two focus group discussions with small business owners on behalf of Small Business Majority. This report reveals a demonstrated need for further education and engagement around Clean Slate and criminal justice reforms, and how small businesses and the communities they serve may benefit from these policies.
A new opinion poll of small business owners nationwide reveals that our nation’s entrepreneurs are being harmed by non-compete agreements, and they strongly support the Federal Trade Commission’s (FTC) proposed rule to ban them in most instances. The poll reveals that nearly 6 in 10 small businesses support the FTC ban.
Digital transformation: Survey finds lack of digital fluency in key areas, need for additional support
The coronavirus pandemic has forever changed consumer behavior and how business is done. Tech giants and other large companies were able to capitalize on this seismic shift, leaving vulnerable small businesses behind, particularly those owned by women and entrepreneurs of color. To ensure an equitable recovery and to level the playing field for small businesses, we have launched an in-depth, multifaceted research project to better understand what these businesses need to compete in a radically changed environment.
This first survey specifically explores small business confidence in implementing digital tools and technologies, their digital literacy and their access to broadband. Additionally, the survey reveals the current state of small business growth and how this may impact their digital transformation.
As President Biden prepares to deliver his second State of the Union address, Small Business Majority surveyed small business owners and decisionmakers around the country to better understand their biggest challenges, as well as the top policy issues they want to see addressed by policymakers.
State reports: Small business owners support criminal justice reforms to address persistent workforce challenges
While small businesses employ nearly half (46.4%) of the private workforce in the United States, many are struggling to hire and retain a ready workforce. One viable solution to their persistent workforce challenges is the passing of Clean Slate policies, which seal and expunge certain criminal records and allow justice-impacted individuals to seek employment opportunities and entrepreneurship. Individual state analyses of small business responses in Georgia, Illinois, North Carolina, Ohio, Pennsylvania, and Texas found widespread support for Clean Slate policies at the state and federal level.
This poll, conducted in six states – Georgia, Illinois, North Carolina, Ohio, Pennsylvania, and Texas – found that 84% of small business owners agreed that Clean Slate policies would open up a pool of job applicants that deserve a second chance. Regardless of political affiliation, small businesses shared support for policies that can help boost labor recruitment. Given the ongoing workforce challenges hindering small business growth, the poll results confirmed widespread backing for policies that seal or expunge qualifying criminal records from background checks.
Small businesses optimistic about the future, despite concerns about inflation and barriers to capital
Entrepreneurs continue to navigate a number of challenges operating their businesses, more than two years since the COVID-19 pandemic started. Small Business Majority and Start Small Think Big surveyed small business owners and managers in their networks to understand their current business conditions, how they are faring amid rising inflation, and what they need to maintain and grow their businesses over the next six months to a year.
As entrepreneurs continue to navigate a number of challenges operating their businesses, Small Business Majority surveyed small business owners and managers nationwide to understand their current business conditions and how they may have benefited from federal relief programs. The survey found that nearly two-thirds (65%) of small businesses felt more optimistic about their business prospects for this year's second quarter. Despite this optimism, small businesses are facing a number of challenges, including inflation, supply chain disruptions and workforce shortages.