This year has been incredibly difficult for the small and medium-sized business (SMB) community. Many have had to endure State-wide shutdowns, new safety mandates, and evolving demands from customers, to name a few. Some owners have had to close their business for good, while others continue to struggle to stay afloat. As we move into the fourth quarter of this year, we are starting to see some signs of optimism for the SMB community’s future.
In this report, we provide the latest data from our Local Pulse Report™ study. We’ve compiled insights from over 9,600 interviews with business owners to help you prepare for the remainder of 2020 and beyond.
According to our recent Local Pulse Report™, 35% of US small businesses plan to increase investments in technology over the next twelve months. Up 17% from 2019, business owners plan more investments in cloud-based software to help manage various aspects of their businesses, customer relationship management tools, and online scheduling systems.
When asked about the main drivers for the increase in investments, 55% of business owners stated they want to upgrade their technology to save time, followed by 40% to increase capabilities, and 28% to reduce overall costs.
The study also revealed that businesses that have already invested in technology are more willing to spend [...]
With Halloween right around the corner, we thought it would be good to look at some of the companies disrupting the food and beverage industry. While many of the traditional players will continue to dominate the market this Halloween, new brands are positioning themselves differently and creating new experiences for consumers.
Below is a chart from CB Insights that includes 80+ brands in the candy space across eight categories, from sugar and fat replacements to cannabis- and alcohol-based treats.
These companies are disrupting the market by (1) featuring products that are healthier options, (2) focusing on direct to consumer distribution strategies, (3) [...]