NSBA, Cisco Release New Report on Pandemic Recovery and Technology
Today, NSBA and Cisco are releasing a new report on how small businesses are faring with regards to the pandemic, the path to recovery and the critical role technology plays. The report shows that, while small business is continuing to fight back from the pandemic, confidence and economic outlook remain much lower than pre-pandemic levels. It also highlights serious gaps in technology and cybersecurity protection that warrant greater attention.
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“After nearly two years in this ‘new normal’ the pandemic has forever changed how we work and technology has been a lifeboat for many small businesses,” stated NSBA President and CEO Todd McCracken. “However today, one-in-five small-business owners say they are not confident they will fully recover from the pandemic and one-third still are not back to pre-pandemic levels.”
Among the other key findings:
- Economic security is small businesses’ top concern with regards to COVID-19.
- Seventy percent of small-business owners report some level of remote work by either themselves or their employees over the past year.
- Just 34 percent of small businesses have completed a technology audit.
“Unfortunately, despite the critical role technology plays connecting business owners, their employees and customers, throughout the pandemic, many small-business owners have not been able to place the needed priority on their technology strategies,” stated NSBA Chair ML Mackey, CEO, Beacon Interactive Systems. “Across the country as we work to rebuild, now is a critical time to invest in business infrastructures, and technology must be front-and-center.”
Celebrating more than 80 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA’s 65,000 members represent every state and every industry in the U.S., and we are proud to be the nation’s first small-business advocacy organization.
