GoDaddy surveyed 5265 small business homeowners to measure the effect of coronavirus and perceive plans for the future.
Revenues have fallen by 75% of small businesses, however, commercial homeowners are also convinced that the acquisition will take place within a year, according to a new GoDaddy survey. The “Global Entrepreneurship Survey 2020” included 5,265 homeowners from international small businesses and measured the effect of COVID-19 on micro-enterprises, adding commercial operations, finance, recovery, generation and charitable donations.
The survey was conducted through the Savanta study company in June 2020. The studies were conducted on 5,265 small business homeowners in Australia, Canada, Germany, India, Mexico, the Philippines, Spain, Turkey, the United Kingdom and the United States. In the United States, the survey focused on 500 small business homeowners with 25 employees or less.
Despite a significant economic effect of the pandemic, 52% of homeowners say COVID-19 has had a negative effect, but they are convinced that their business will survive. 35% say their business can thrive.
92% of global respondents said they expected their business to stay the same or grow 25% or more in the next 3 to five years. The poll also found that 36% of these corporations had to close at least temporarily due to the pandemic, 10% reported layoffs or leave and 3% ended permanently. Thirty-four percent of respondents said they had replaced the one they ran their business due to COVID-19.
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The survey focused on very small businesses with 91% of respondents employing 10 other people or less and 50% were single-person operations. U.S. homeowners were the positive highs on the recovery, with 70% expecting to return to pre-COVID activity within a year. This is the first time in five years that millennials make up the majority of respondents.
For 45% of commercial homeowners said they expected to recover within 3 to 12 months, and 26% expected to recover in 3 months or less. Only 28% of respondents received government monetary assistance during the pandemic.
Surprisingly, only 40% of respondents have a professional website. Companies in Australia, Germany and the United Kingdom were probably the highest to have a website, while companies in the Philippines, India and Mexico were the least likely high. Of the homeowners who owned a website, more than part increased their online presence due to the pandemic by adding content, creating an online store and expanding virtual marketing. American corporations were as much as possible to manage their own generation’s wishes by 66% versus 54% worldwide.
Only 19% of corporations say they have budgeted more cash to create an online presence and 53% say their online budget has remained the same. Despite the economic effect of COVID-19, 59% of commercial homeowners said they had not replaced their charitable donations.
Veronica is a freelance journalist and communications strata. For more than 10 years, it has covered fitness and fitness care with innovation and patient involvement. He directed AIR Louisville, a three-year virtual fitness assignment at Array.