Study finds 55% of small businesses remain optimistic about the future despite coronavirus concerns

New Ideas in MarketingEssential news for marketers, summarised by YouGov
June 30, 2020, 6:19 PM UTC

Tech.co surveyed small business owners to understand how they have retained customers during the lockdown.

The coronavirus crisis has affected most small businesses, either by disrupting operational budgets, supply-chain, supply cost or consumer demand for products/services. 80% of survey respondents agreed the pandemic has “hurt their businesses”. But, 55% of small business owners also feel positive about the future.

The study found 76% of small businesses upskilled themselves during the lockdown, to grow their businesses. Owners of these businesses learned new skills like search engine optimisation, social media and data analytics. They have also learned new languages during this period.

While local authorities are easing lockdown restrictions, more than half of small businesses are planning to reopen soon. But, businesses should prepare proper timelines for resuming operations and invest in safety and hygiene measures.

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