Study: Small Businesses In U.S. Are Grim About The Economy

Small business owners are pessimistic: only 15% in the U.S. are positive about the economy, according to the Bluehost’s third annual Small and Medium Businesses study.

In contrast, 69% in India are optimistic, along with 33% in Australia and New Zealand. But 80% overall agree that inflation is increasing costs.

SMBs are busy online — 77% in the U.S. use email and 71% use social media.

In addition, 67% in the U.S. strongly agree that an online presence is good for longevity. And 73% say that ecommerce eases cost pressures, with almost 50% in the U.S., India and Australia saying they are seeing reductions. 

Of American SMBs that have a domain name, 93% also have a business website, although they have not fully embraced selling online. 

Of SMBs with a website, 25% in the U.S. sell online, versus 21% in Australia, 22% in India and 16% in New Zealand. And 33% of U.S. businesses expect to start ecommerce in the next 12 months.

“The COVID-19 crisis has pushed SMBs to promote and grow their businesses online and now with inflationary headwinds, SMBs continue to show remarkable resilience," says Mitika Kulshreshtha, vice president of marketing, Newfold Digital, the parent company of Bluehost.

 

 

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