Wellbeing

Research suggests SME optimism for 2021

New research from business directory Yell has revealed that there is optimism among SMEs (small and medium enterprises) regarding business in 2021, despite the financial downturn resulting from Covid-19.

Yell’s report found that 65% of small business owners were optimistic about the success of their business for the remainder of 2020, which rose to almost three in four (71%) when looking towards 2021.

Claire Miles, chief executive officer of Yell, said: “It has undoubtedly been an incredibly tough year for small businesses across the country but it’s heartening to see that the majority of SMEs remain optimistic in the face of adversity.

“Our diverse local businesses are the cornerstones of community, which is why it’s crucial that now, more than ever, Yell continues to champion small businesses and provide the digital tools and insights needed for them to thrive.”

She added: “Our research highlights not only the sheer adaptability of SMEs but also their determination to find the right way to communicate change to their existing and potential customers. It’s clear that during these uncertain times, instant messaging services have been a lifeline to businesses who have had to adapt and adjust their models quickly.

“Instant messaging facilitates timely and conversational communication between businesses and consumers and as the findings show, many SMEs will still be relying on these services to succeed post pandemic.”

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