NEWS – Resiliency and Persistence Prevails: The UPS Store Results from 2021 Inside Small Business SurveyRamon Ray
While 2020 was challenging for most of the general population, it was a particularly turbulent year for small business owners who learned to quickly adapt to a struggling economic landscape. The UPS Store, Inc. recently released findings from their 2021 Inside Small Business Survey which revealed the strength of small business owners who demonstrated an inspiring sense of resiliency.
The vast majority of the general population (84%) were concerned about small businesses closing in their area due to the challenges brought on by the pandemic. And while fewer small business owners said the pandemic has had a negative impact on them compared to what consumers think, this year’s survey revealed that small business owners still had to adjust in many ways. More than one third of small business owners indicated they had to make financial adaptations to their business (42%), make operational changes (38%) and adjust their workforce (37%). Switching from indoor dining to curbside services, cutting employee hours and swapping to online sales versus in-store are a few of the ways these changes came to life.
Positive Community Impact
While small business owners hustled to stay afloat, many consumers believe they continued to make a positive impact on communities in a variety of ways by creating jobs in the U.S. (77%), ensuring the well-being of their employees (73%), making a positive impact on society (71% ), being environmentally responsible (66%) and cultivating a diverse and inclusive workplace (63%).
While the toughest moments of the pandemic seem to be behind us, small business owners still need the support of their communities and consumers as they try to bounce back. Of course, the most obvious way consumers can show support is by purchasing products and services, but there are many other ways to lend a hand.
How Can You Help?
Small business owners say consumers can help foster their success in a variety of ways, including by asking friends and family to support small businesses (30%), following local COVID-19 health guidelines (29%), giving businesses positive reviews or ratings online (26%), sharing honest feedback about how to improve their business (22%) and treating small business employees with respect (20%). Making small businesses a part of your everyday life as a consumer, through purchases or one of the other ways outlined above, will contribute to the continued resiliency of the small business owners who serve as the backbone of our economy.
The UPS Store, Inc. is also dedicated to showing continued support for small businesses through the third annual “Small Biz Challenge.” Find more details here.