A new QuickBooks report reveals 23% of small businesses starting in the next 12 months will have a completely remote workforce. This is primarily driven by the impact of COVID-19 on the work habits of most employees and businesses.
Starting a business? What this means for you: QuickBooks says it is going to lead to a no-office culture for many small businesses as they adapt to the way employees work in the future. For prospective new business owners, the report points out they are significantly more likely to expect new employees to work remotely.
Data supporting the change: For businesses that are already established, 27% of them are allowing more employees to work from home. Furthermore, 1 in 7 or 13% say all new employees they hire will work remotely or at home.
So, both established and new businesses are moving towards remote work as a viable option to keep their workforce employed.
The fact of the matter is remote work was on the rise before the pandemic. However, it accelerated the adoption process across a much wider segment of the economy. And in turn, this innovation is creating new opportunities, especially for small businesses.
Additional Findings
The changes brought about by the pandemic is driving entrepreneurs to adapt and innovate. In the survey, 86% of small businesses said they developed a new product because of the pandemic. Furthermore, 28% of those starting a new business say the pandemic is accelerating their plans to open their business.
Here are more findings:
- 28% of small businesses are selling more online and 94% say the pandemic influenced this change
- 42% are starting a new business to make their side gig official
- 87% of those opening a new business will be primarily online
- 72% of prospective business owners are optimistic about small business ownership in the next 12 months
Methodology: QuickBooks commissioned Qualtrics to find out how 965 current small business owners and 635 people prospective business owners who intend to start a small business in the next 12 months will do. This despite the current economic conditions brought about by the pandemic.
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With the additional cost of COVID mitigation and the potential liability of infection, I don’t blame them. If you have the flexibility to have your employees be remote, then use it.
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