On this morning’s WJR Business Beat, Jeff shares optimistic results from a recent Verizon survey, which polled 500 small and medium sized businesses currently opening or planning to reopen soon.
According to the study, 68 percent of small retailers believe that they’ll be able to recoup the financial loss brought on by COVID-19 and related mandatory shutdowns over the past two months.
Listen in below to hear more of the findings:
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“Well, now that the initial shock of the pandemic has passed, many small businesses are focusing on the future by investing in new ways to adjust to the new work from home model, optimizing revenue and finding ways to succeed in the new business as usual.”
– TJ Fox, president of Verizon Business Markets, via Verizon’s press release
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Good morning, Paul.
Well, here’s some good news! Good to hear this: more than half of small retailers, 68 percent, believe that they’ll be able to recoup the financial loss brought on by COVID-19 and related mandatory shutdowns over the past two months.
Who would have thought? But that’s a prime finding from a Verizon business survey, small business response to COVID-19 conducted by Morning Consult that polled 500 small and medium sized businesses currently opening or planning to reopen soon.
The survey, according to a press release, also reveals small business owners are feeling optimistic. Again, who would have thought? But indeed they are: 43 percent plan on expanding their businesses through digital and related technology, 48 percent of small businesses say it’s unlikely they’ll need to resume operations with a smaller staff, so, they won’t be cutting staff. And while 78 percent of small businesses indicate declining sales, less than a quarter, about 24 percent, say that they’ll have any issue paying bills, rent utilities, etc.
How’s that?
“Well, now that the initial shock of the pandemic has passed, many small businesses are focusing on the future by investing in new ways to adjust to the new work from home model, optimizing revenue and finding ways to succeed in the new business as usual,” said TJ Fox, president of Verizon Business Markets, in the press release.
Well, that’s some good news for you. Let’s get out there and make it a great day and do some good business as we begin to reopen in Michigan and nationwide.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
