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May 22, 2020

Small Business Tools & Recent Study

COVID-19, Attitude, and E-Commerce
Small Business Tools

Facebook recently published a great study of SMB's (Small & Medium-sized Business) within the COVID-19 environment. Some of the findings included:

  • 31% of owners report that their SMB is not currently operating.
  • 28% of the SMB’s said the biggest challenge they would face over the next few months was cash flow.
  • 51% of small businesses report increasing online interactions with clients.
  • 36% of personal businesses that use online tools report that they are conducting all their sales online.
  • 35% of the small businesses that have changed operations have expanded the use of digital payments.

All of that said, optimism abounds:

  • 57% of SMBs report that they are optimistic or extremely optimistic about the future of their business.
  • Only 11% of operating small businesses expect to fail in the next three months should current conditions exist.

Trying out e-commerce - low risk

In response to the need, Facebook has created a quick way to integrate online shopping with a Facebook Business page.

This could be a low-risk, simple way to get your feet wet in the e-commerce world without creating a new website (but if that's more your speed, try Shopify), while allowing you the flexibility of a small-scale solution.

What's the bottom line?

Small businesses are the lifeblood of our communities. Despite all the challenges present, the crisis has not eroded a powerful sense of optimism. And business owners are ready and able to react quickly to creatively find new ways to reach and serve their customers.

So is VanNoppen Marketing. We call it the Greenlight Program. We'll empower you to react quickly and effectively with fresh tools and solutions. Don’t wait. Let’s get started today with the rebound.

As a footnote: Take a minute and check out the latest Stump Market Minute video from our good friends and long-term client Stump & Company. It's timely, engaging, pertinent, and informative.

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