Most SMBs that have been able to weather the COVID-19 crisis to date have already made significant adjustments to adapt their businesses to the new normal.
SMB Group’s study, SMBs: Navigating a Path Forward: How Will SMBs Get to the Next Normal? reveals how SMBs are putting technology to work to respond to new realities today and to lay the groundwork for future growth.
This infographic, Navigating a Path Forward: Business and Technology Impact and Outlook, highlights the impact of COVID-19 on SMB technology attitudes, adoption, and plans, including:
- How COVID-19 has affected technology investments and adoption.
- The top changes SMBs have made, and are planning to make due to COVID-19.
- How SMBs are using technology to help them adjust and pivot their businesses.
- Which changes SMBs see as providing the most value to their businesses.
- The correlation between technology investment and business performance.
- The impact of COVID-19 on the adoption of cloud-based solutions.
- SMB view on the benefits and challenges of work-from-home (WFM) programs.
For instance, SMBs that have accelerated technology adoption and investments are 42% more likely to have increased their revenues since March than SMBs that decelerated in this area. Similarly, SMBs that have accelerated their technology adoption and investments are also 36% more likely to forecast that their revenues will rise over the next six months than SMBs that have decelerated technology investments.
This research is from the SMB Group Survey, SMBs: Navigating a Path Forward—How Will SMBs Get to the Next Normal?, fielded in July 2020. Sponsored by Dell Technologies, Mitel, Sage Intacct, Workday, and Xero, the study gauges the sentiments, outlook, and actions that SMBs are taking to sustain their businesses amidst continuing uncertainty. We surveyed more than 750 decision-makers and influencers North American SMBs (1 to 1,000 employees) and midmarket organizations (1,000 to 2,500 employees) for this study.