Facebook Study Reveals Local Business Optimism

Given we’ve never seen a self-imposed “shut down” of the economy like this before, it’s no surprise that so much data is being generated to help us understand what’s happening. In particular to hard-hit local businesses.

We found this large data set generated from Facebook and the Small Business Roundtable and discovered some bites worth sharing. The two organizations surveyed 86,000 small business owners and employees of small businesses. 

The sample size is staggering. But then again not really when you consider Facebook has millions of small businesses on its platform. A quick footnote. Facebook COO Sheryl Sandberg is a report co-author. This illustrates how important the small business market is to Facebook. 

We found the report’s overall optimism interesting. Almost 60 percent of respondents — either still employed by or recently let go from small businesses — were hopeful about their future employment. We hope their optimism is ultimately justified. 

More WFH Anxiety

Real estate and leasing costs continue to be among the most pressing issues for the small business operator. This concern logically connects to the WFH data we wrote about earlier this week based on Localogy’s Mobile Commerce Monitor data. Shifting workers to a home office is an obvious choice.

At the same time, business owners who’ve never had employees working from home are anxious about productivity levels. We do believe that WFH will ultimately bear fruit for local small business owners. Particularly for those able to train and manage remote workers and deploy the right technologies to help meet productivity goals.

Genders’ Differing Policy Views

Another interesting data point highlights the differences between genders. Policies supporting “care of household members and dependents” was 14 percentage points higher among women than among men. This matters because as we move forward, woman-owned businesses will continue to grow and accelerate in numbers and importance. 

We’ll continue to share and comment on interesting data addressing the local, small business landscape. 

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