It’s been a rough year for business, there’s no doubt about that. The pandemic has taken its toll on small businesses. Despite the hardships and challenges, it’s not all doom and gloom. This new survey by Bluehost shows optimism is aplenty, with 3 in 4 small businesses being hopeful about the future.
Web hosting specialists Bluehost analyzed the responses of 500 small business owners in the US. The ‘State of Small Business Survey’ explored business owners’ thoughts and plans as we move into 2021.
Bluehost Small Business Optimism Survey
72% of those surveyed say they are confident about the business outlook. Much of the positivity involves online sales. Almost half the respondents admit they have no reason for a physical store. Three-quarters of small business owners expect their online sales to increase in 2021.
Turning Passions into Businesses: The research highlights a determination not to let the unforeseen obstacles of the pandemic bring people down. As many as 27% of respondents say they have turned their passions or hobbies into a full-time business.
Fortitude and Proactivity: Showing fortitude and proactivity, small businesses are busy implementing important digital changes. One key change is adjusting websites, with 39% of business owners prioritizing website modification. 31% say they plan to expand their social media presence. A similar number are going to increase marketing efforts in a bid to pull their business through these testing times.
Lingering Concerns: Naturally, there are lingering concerns. One top concern is related to securing new business. 44% of the business owners surveyed say they are apprehensive about acquiring new customers.
Almost a third of small businesses are worried about the enduring economic impact from Covid-19. 21% of respondents cite lower sales and consumer demand as their most pressing concern in the months ahead.
Such concerns cement the importance of making savvy adjustments to business operations. By making changes to marketing and sales, small business owners will be better equipped to successfully navigate these testing times. Better still? Joining the 72% of small business owners who have an optimistic mindset about the future.
More in: Statistics