UPS’s Inside Small Business Survey highlights how small businesses have become resilient.
The survey found 41% of small business owners have pivoted their business in the wake of coronavirus outbreak. Small businesses were also better able to adapt relatively quickly, as opposed to big companies, due to their size and rapid modifications in operational procedures.
Heavy workloads (15%), long work hours (12%) and tight deadlines (11%) were the primary stress drivers during the crisis. A majority of the respondents said “Just working through it” is the solution to combat stress. At the same time, 44% of them suggested prioritising tasks, and 39% said, they “Figure out a solution”.
After adapting to the new normal, 65% of small businesses are conducting more trade online. 28% of companies are shifting to ecommerce, while 15% are offering curbside delivery.
[4 minute read]