Image Source - Social Media

6 Important Small Business Trends


Small Business Commerce Is Shifting Online

In 2020, the way we purchase goods and services underwent a profound transformation, impacting not only major retail chains and well-known direct-to-consumer brands but also small businesses. A 2021 Intuit survey revealed that nearly 75% of small businesses now engage in online sales.


Image Source - Social Media

2. Software Solutions Offer Virtual Efficiency

Small businesses rely on software and virtual solutions, especially when they can't hire in-house staff. In 2021, 80% of small businesses, according to Clutch, planned to outsource key functions to SaaS tools due to this need.

Image Source - Social Media


A Digital Presence Is Essential

Image Source - Social Media

As online shopping grows, a strong digital presence becomes crucial for small businesses. In the past, many relied on local and traditional marketing. However, with increased online competition, they must pivot to compete digitally.


Cyber threats Are A Serious Issue

Small businesses are deeply worried about cybersecurity, with limited means to defend themselves, making them prime targets. Nearly half of data breaches target small businesses, and a surprising 61% reported cyberattacks in the past year. Solutions include cyber insurance and heightened cybersecurity measures.

Image Source - Social Media

Small businesses secure funding through diverse channels. Historically, banks were the primary source, with over 80% of firms relying on them, mainly through loans or lines of credit.

Image Source - Social Media

5. Creative Financing Allows Small Businesses To Grow