Survey Results Demonstrate Small Business Resiliency: How 100+ Independent Business Owners Responded to the Pandemic
PostcardMania surveyed 126 small business owners to gauge the community’s response to the COVID-19 crisis. Those 126 respondens demonstrate a highly resilient business economy that met the challenge of COVID-19 head on, highlighting the adaptability of American small business owners and their dedication to ensuring their business’s survival.
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The data pool consists of a diverse group of business owners. Dentists, general contractors, personal trainers, real estate investors, educators, retailers — the list goes on. Almost every major niche within the SMB community was represented.
The short, 7-question survey covered a number of coronavirus business topics, including pivoting business strategies to survive, marketing during a worldwide pandemic, the success of PPP applications/funding, bringing remote personnel back to work and more.
Results from the survey indicate the pandemic affected virtually every business in some way, with 58% of respondents reporting they pivoted to continue operations.
As the country reopens, businesses must decide where to spend their money and how to get customers back. So, who is spending money on marketing? A little over half (52%) of respondents claimed they continued or increased their marketing efforts during the pandemic, an indicator that American small business owners continue to invest in the long-term longevity of their business, despite revenue losses.
The survey also touched on PPP funding, showing why there’s still $310 billion still up for grabs, as allocated by the CARES Act extension. A small percentage of respondents applied and haven’t heard back (9%) or didn’t receive any funds at all (12%), while the vast majority either received funds (40.5%) or have not applied at all(39%).
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