During the COVID-19 pandemic 96% of small businesses were affected by the pandemic. 59% were forced to lay off a substantial number of their employees, and 30% had to close their doors permanently. Out of these small businesses, women and minority-led operations were more likely to report permanent closure, reduced sales, and employee layoffs. Today, small businesses are still struggling, but there is a brighter future ahead.
As of today 50% of small businesses are focused on growth and rebuilding. Many of these businesses are doing so by shifting to a more digital business model. In 2020, Americans created 2.8 million more microbusinesses than they had in 2019, and now owners are working to grow these projects to full-time businesses. This means that more small businesses are operating more online than they previously had, which is opening the door to more customers and clients.
To handle the influx of new customers and clients, small business owners are utilizing business systems to help delegate their daily responsibilities like documentation, workflow, and training. This transition to the digital world via digital agency growth is helping small businesses recover from the hit they took during the pandemic and making sure they are able to keep their doors open. Learn more about how small businesses are recovering after COVID-19 in the infographic below: