According to a new study released by Connected Commerce Council, in partnership with Google, despite the current economic environment, small businesses are optimistic about reopening their doors. The survey had over 500 small business responses and was conducted in mid-May.
Small businesses are resilient; it’s no secret. But their optimism in the face of the pandemic and new adversity is a positive reflection of what’s on the horizon for Main Street America.
The study reported that 74 percent of small businesses expect to be operating at their pre-pandemic normal within six months of restrictions being lifted. Adapting business models to the new norm will help make that happen.
Digital tools, including social media for marketing and advertising, Google Ads, customer relationship platforms and online marketplaces, made staying open possible. Mom and pop shops had to quickly shift their sales and consumer networks online — an avenue many businesses had not previously utilized. During the pandemic, digital tools were a business-saving resource.
Seventy-six percent said they are relying more on digital tools than before the outbreak. Two-thirds reported they would have had to close parts or all of their company if they didn’t have these digital tools. Women owners (43 percent) were much more likely to use digital tools than men (29 percent).
The pandemic hit Main Street quickly. But with various online programs, business adjustments and forgivable government loans (like the Paycheck Protection Program), small businesses will again be able to power the economy as they reopen their physical doors.