Pinger Micro-Business Survey Explores How Micro-Businesses Changed During the Pandemic
Recognizing that small businesses and solopreneurs are major engines of our economy, Pinger Inc., the maker of communications apps including Sideline Pro, surveyed more than 1,000 of the smallest of small businesses (1-5 employees) to understand how the pandemic impacted them.
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“The pandemic was crippling for many small businesses. That’s why we are particularly gratified to see encouraging results from this survey”
Survey questions included: Why did they start their businesses? Are they doing better or worse than they were pre-pandemic? Where do they do their work? Why do employees work for them instead of a larger company? And how have customer communications changed?
When survey respondents were asked what prompted them to start their business, 56% said that they wanted to be their own boss. Another 39% said they wanted more flexible work hours and to increase their income, and 30% stated they wanted a better balance between their personal and professional lives.
Surprisingly, nearly two-thirds of respondents, who worked in industries ranging from retail and personal services to construction and landscaping, said their businesses are doing about the same or better than before the pandemic.
“The pandemic was crippling for many small businesses. That’s why we are particularly gratified to see encouraging results from this survey,” said Greg Woock, co-founder and CEO of Pinger. “These businesses have really demonstrated their grit during these challenging times, and we hope that this survey will encourage others to take a closer look at this important business group and give them the attention and help they deserve.”
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The Pinger Micro-Business Survey also found:
- The respondents were almost evenly divided about whether they find running a small business easier (31%), about the same (31%), or more difficult (38%) than they had expected.
- Respondents believe their employees chose to work for their small company over a larger organization because they prefer to work for small businesses (23%); they believe in the business’s goals and values (22%); they love the company’s products or services (19%); and they want to be a part of growing a business (19%).
- Most of the respondents work from their home (58%), while 19% work from the road or at a customer site. Only 8% work from a traditional retail space or office setting.
- Respondents who said the way they communicate with customers has changed since the pandemic most commonly cite an increase in voice calls (45%) and texting (45%).
- More than one-third of the survey respondents (35%) started their businesses within the last two years. Almost an equal number (39%) have been in business for six years or more. Not surprisingly, most of the business owners are millennials (37%), Gen Xers (28%), and baby boomers (20%).
- Looking ahead, the respondents believe their biggest challenges are growing their client base (48%), keeping prices competitive despite rising inflation (33%), and building repeat business (27%).
