62% of business owners confident they will return to pre-pandemic levels

New Ideas in MarketingEssential news for marketers, summarised by YouGov
October 26, 2020, 10:47 AM UTC

A new survey by Capital One looked at mood among small businesses.

Most small businesses owners are optimistic about their enterprises emerging the same or better after the pandemic. An overwhelming majority (82%) of small businesses said they have been able to maintain or increase the numbers through the pandemic.

79% of businesses said they have been beneficiaries of the Paycheck Protection Program and it has helped them stay in business. More than half (58%) further asserted that they did not require financial assistance in the last six months.

While only a marginal 2% of business owners reported permanently closing after the pandemic, fewer than 20% cut back their services. Despite the positive picture, challenges including training and consulting support and practical advice still remain.

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