Veem’s latest State of Small Business report captures snapshot of small business sentiment amid rising vaccinations and the future of return to work
Veem, a leading provider of online payment solutions, announced the release of its quarterly report, “State of Small Business.” The report, which surveyed over 700 American small business owners, focused on how SMBs are preparing to implement their return to work policies as vaccinations increase and restrictions are lifted. In addition, the report covers how SMB’s are responding to the Delta variant’s rise and economic confidence levels.
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Below are some key findings:
- Work from home could be here to stay. Close to 60% of respondents are planning to offer remote work options long-term.
- Roughly, 43% of small business owners are not requiring their employees to be vaccinated against COVID-19 and an overwhelming 62% are not requiring customers to show proof of COVID-19 vaccinations.
- Small business owners remain sharply divided on an economic recovery, with 29% of respondents feeling “fairly confident” compared to 28% feeling “somewhat confident.”
- 64% of small business respondent’s expect an increase in government mandated COVID-19 regulations based on the surge of the Delta variant.
“Small businesses remain cautious of a robust economic recovery and are closely monitoring ongoing developments as it relates to COVID-19 and emerging variants,” said Marwan Forzley, CEO of Veem. “Even though vaccinations may be increasing and government restrictions are being lifted, it’s no doubt that the pandemic continues to be an ongoing concern among the small business community. For small business owners, COVID has pushed entrepreneurs into adjusting to a new normal where work from home is no longer a perk, but a necessity. I think we’ll continue to see more small businesses remain agile as they continue to adjust to a fluid environment.”
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