Digital Tools Continue To Unlock Opportunities For U.S. Small Businesses
The Data Catalyst Institute provided research support for this report published by the Connected Commerce Council.
In our survey of 2,000 U.S. small business owners and senior decision makers (“SMB leaders”), we learned that they use digital tools to increase their agility, resiliency, and ability to adapt to challenges. Digital tools have empowered SMB leaders to expand their business operations and drive growth in key ways: 92% to engage with customers, 87% to grow their customer base, and 84% to sell products and services. Additionally, SMB leaders who embrace digital tools have a more positive outlook, with 73% feeling optimistic and 34% very optimistic about the future of their business.
Digital tools also help “level the playing field” for all Americans, as they disproportionately help diverse SMB leaders work more efficiently, drive more revenue, and create more jobs. For example, 85% of Hispanic-led and 83% of Black-led SMBs (7% and 5% higher than the 78% average) recognize a noticeable impact when using digital tools to expand their business. And 85% of both Hispanic and Black SMB leaders (each 6% higher than the 79% average) said that digital tools increased their businesses’ ability to collaborate, work efficiently, be more agile and shift strategy in response to changed circumstances.