The coronavirus pandemic has accelerated the adoption and creation of new software. See how small business owners are using new technologies to grow and run their companies while remaining socially distant.
90% of small businesses digitalized their business in 2020.
- 95% of small business owners adopted online checkout; 37% found it extremely valuable and 40% found it moderately valuable.
- 93% of small business owners adopted contactless delivery/pickup; 37% found it extremely valuable and 39% found it moderately valuable.
- 92% of small business owners converted to digital team collaboration; 36% found it extremely valuable and 38% found it moderately valuable.
- 92% of small businesses converted to virtual meetings; 34% found it extremely valuable and 43% found it moderately valuable.
Part of this digitalization was by adopting new software.
- 40% of small business owners adopted project management software for permanent use and 19% adopted project management software for temporary use.
- 39% of small business owners adopted video conferencing for permanent use and 23% adopted video conferencing for temporary use.
- 38% of small business owners adopted business intelligence (BI), reporting or analytics software for permanent use; 22% adopted temporarily.
Using these new technologies and software small businesses small improved productivity, increased sales and improved customer engagement.
- 47% reported new software increased productivity.
- 45% reported improved engagement with customers.
- 45% reported increased sales.
- 42% reported reduced costs.
45% of small business owners intended to increase their investment in technology in 2021.
SCORE can help your business make a comeback in several ways. We can:
- Answer your toughest business questions in free, confidential, online mentoring.
- Help you find the right software for your business.
- Help you understand the trends you’ll want to jump on now to succeed in 2021.
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Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.