Home Small Business Smallest businesses have seen slower sales since the pandemic

Smallest businesses have seen slower sales since the pandemic


Small businesses with ten or fewer employees seeing slower sales since pre-pandemic times. This is the finding in a report by Skynova, an online invoicing specialist for small businesses.

Skynova surveyed more than 1,000 experts to find out how digital changes have impacted their businesses and employees during the health crisis.



Proficiency in Technology and Online Change Operations

The survey found that 37% of small businesses were more likely to have worse sales compared to before the Covid-19 attack compared to larger firms. 63% of people surveyed in this size of business say they haven’t moved online yet. 46% of businesses with less than ten employees identify as very proficient with technology.

Larger businesses with 50 – 99 employees are more likely to report sales since the pre-pandemic period. 81% of this business has already moved online. 60% of survey participants say that they are proficient in technology. These businesses are also more likely to have more employees as of March 2020.

The survey findings provide important insights for small businesses as door lock restrictions are relaxed and the market begins to open. It shows the importance of being active online and being proficient with technology. Digital proficiency shouldn’t be limited to larger businesses. Small businesses should take the initiative online to drive more engagement with customers and ultimately generate more revenue.

As the author of written report:

“Despite the pandemic pressure alienating companies, the companies with the highest digital literacy are most likely to increase their online presence. As the level of technology decreases, so does the likelihood of an online company going online during a pandemic.

But not accepting a job online has been detrimental to the success of some companies. While the most proficient companies saw the most significant increase in sales, the least proficient companies experienced the most significant drop in sales compared to the pre-pandemic period. .

What digital channels are small businesses using

The study also looked at the types of digital channels that SMEs are prioritizing in their online operations. 70% of professionals working for businesses with 10 or fewer employees say they are more likely to support Facebook because of the majority of their online presence. Followed by YouTube (46%) and Instagram (36%).

Midsize businesses with 50 to 99 employees love Facebook, Instagram and Twitter. 66%, 61% and 50% of participants say that they rely on respective channels the most.

Digital Targets and Priorities

The study also explores the different digital goals of businesses, which vary with company size. 57% of respondents say improving customer experience is their primary digital presence goal. 45% say that selling and marketing is their main reason for being online. Market expansion and growth are also considered a top priority, along with operational improvements and service delivery.

Large businesses with more than 500 employees tend to prioritize reporting service delivery improvements, finding talent and employee experience compared to small businesses. Businesses with fewer than ten employees consider improving customer experience, sales and market, and new products and services a top priority online.

Skynova research provides useful insights for small businesses about what other small businesses and larger competitors are prioritizing in digital operations. It also shows the importance of adapting to the new climate, where the digital presence is gaining even greater value in maintaining customer relationships. Failure to improve both technology and digital proficiency can be detrimental to the success of a small business.

Photo: Depositphotos




RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments