» A poll of U.S. SMBs during quarantineLandon Howell | A blog about startup marketing

A poll of U.S. SMBs during quarantine
May 12, 2020

Some interesting numbers from a poll conducted by Veem of U.S. SMBs.

• 90% of small businesses are bracing for an economic slowdown

• 81% of small businesses think COVID-19 could impact them for 12–16 months

• 65% of companies said they had either submitted an application for the federal aid or planned to do so in the near future

• 59% of companies are applying/have applied for loans

• 52% of companies are cutting operational costs

• 55% have already experienced some significant impact to revenue

• 50%+ of companies reported moderate to high supply-chain disruptions as a result of factory shutdowns, border restrictions, and industry furloughs

• 30%+ are now setting up regional supply chains or changing their supply chain

• 30% are optimistic, taking the stance that they are better positioned to thrive in the current environment (e.g. ecommerce)

• 13% of companies have not taken any measures to prepare for a slowdown

• 54% of the companies are freezing hiring

• 23% are downsizing staff

• 18% said they plan to increase staff training and support

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filed under: business


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