2021 TRENDS
IN U.S. SMALL BUSINESSES This year, a nationwide survey of small business owners was conducted by the Small Business Trends Alliance (SBTA) in conjunction with Guidant Financial. The study has produced a wealth of data indicating some unexpected trends across the small business economic subsector. An abundance of interesting data from the survey report represents 2021 operational, financing, management, marketing, cutbacks, tech, growth trends, COVID effects, and more. The survey reveals some surprising statistics that serve to characterize small business owners’ decision-making and future planning.
2021 SMALL BUSINESS TRENDS AND INDICATORS FOR 2022 Here are some statistics from Guidant’s 2021 Small Business Trends survey reflecting current small business trends and what they may indicate for the coming year. For increased insight in developing your rationale, it may help to consider this information during your strategic business planning for 2022.
REVENUE LOSSES AND CUTBACKS The sweeping effects of COVID-19 on the small business economy are unprecedented. The Small
4 11% of the business owners said they have reduced their operating budgets. 4 11% of the respondents said they temporarily shut down their business. 4 10% of the small business owners said they cut their own incomes during the pandemic. 4 Over 6% of companies furloughed employees and 5% ordered layoffs of workers. 4 There was a 19% decline in the total
Business Trends survey discovered some unexpected
number of profitable businesses from
insights into small business ownership.
82% to 63%.
4 23% of survey respondents said their business lost revenues during the pandemic. 4 6% of respondents reported that they experienced increased revenues.
1 2 NORTH AMERIC AN S WE E P E R NO V EM BER 2021
4 78% of small business owners say they expect to stay in business after the pandemic. 4 Just 4% say they expect that their businesses will not survive the pandemic.
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