Friday, December 11, 2020

Global Small Businesses Have Struggled to Survive

Earlier this year, Facebook began conducting monthly surveys of small and midsize businesses that have Facebook pages. The surveys, done in collaboration with the Organization for Economic Co-operation and Development (OECD) and the World Bank, asked about business closures, workforce reductions, and government aid, as well as leaders' domestic responsibilities, their overall optimism, and other topics. More than 25,000 business leaders responded each month, totaling more than 150,000 respondents in more than 50 countries. 

The report findings state that these businesses were more likely than their larger peers to have suffered a 50 percent or greater drop in sales compared with 2019, and were more likely to have closed in a given month. Businesses with fewer than 10 employees were also less likely than larger firms to have received bank or government loans.

Read the global survey of small business owners here.  During the pandemic, global small businesses have struggled to survive.

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