The fifth edition of the Global State of Small Business Report is based on our ongoing research collaboration with the Organization for Economic Co-operation and Development (OECD) and the World Bank. From surveying more than 25,000 small business leaders across 50 countries in September, we found that:
- Micro-businesses have closed at a higher rate than their larger peers, in part reflecting their higher concentration in industries, such as retail and services, that are vulnerable to lockdowns.
- Over the five surveys to date, on average, 49% of micro-businesses were female-led, compared to only 26% of businesses with 10 employees or more.
- Overall, SMBs continue to face an environment of reduced demand and limited sales opportunities. 56% of operational SMBs reported lower sales in September compared to the same 30-day period in 2019.
Check out the full report for more insights on how small businesses are faring.