To track the recovery of small businesses from COVID-19 in 2021, Kabbage surveyed over 550 small business leaders in the US.
According to the report, 57% of small businesses in the US have completely reopened since COVID-19 restrictions were eased. Small businesses that moved operations online saw improved reopening rates, with one-third either selling exclusively online or providing a hybrid model of selling.
Prior to the pandemic, the average monthly online sales of small businesses was 37% of the total revenue. When it came to identifying milestones to mark their recovery from COVID-19, 50% of small businesses said they paid their employees full salaries without reservation.
Further, 47% of business leaders reported paying themselves their pre-pandemic salary and 39% saw levels of customer demand and new inbound business increase. The report notes, small businesses must have the right tools and facilities to grow.
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