2020 Small Business Surveys

2020 Small Business Surveys


DaySmart Software (makers of Salon Iris, 123Pet, Orchid, and InkBook) surveyed small business owners to find out more about the latest trends – explore our findings below!

In 2020, holiday spending was different than in years past. To understand how DaySmart customers prepared for the holiday season – we conducted a survey on small business holiday trends.

Here is a quick glimpse into what business owners and managers said:

This holiday season, do you think business will be better or worse than last year?

60%

of respondents think business will be worse than last year…

But 25%

believe business will be better!

Small Business Survey

Survey Insights

The pandemic has impacted the economy, but there has also been a wave of support for small businesses. Either way, you should closely monitor reports for sales, revenue, and expenses this holiday season.

How is your company preparing for the holiday season?

58%

of respondents are offering special promotions.

45%

of respondents are sending marketing campaigns.

22%

of respondents are stocking up on gift cards.

Small Business Survey

Survey Insights

Maximize revenue and offer special promotions to get holiday clients in the door. Get the word out about your business by using software with personalized automated marketing campaigns, and make sure customized gift cards are at the ready!

Are you already booked up through the holidays?

42%

of respondents are booked up through the holidays.

28%

unfortunately said they are usually booked up, but not this year!

Small Business Survey

Survey Insights

Make sure you maximize your schedule with online booking. Customers can see availability months in advance and book the appointment themselves without having to jump through any hoops.

What is the biggest challenge facing your business this holiday season?

64%

of respondents say the biggest challenge facing their business this holiday season is the potential of a new lockdown due to the pandemic.

Small Business Survey

Survey Insights

Do you have a plan B to keep sales going and savings intact? Explore tele-consultations for clients, product packages, and at-home delivery or selling retail inventory online.

Are you participating in Small Business Saturday?

30%

of respondents said yes.

35%

of respondents said no.

Small Business Survey

Survey Insights

Small Business Saturday is a great way to build up your business and boost your local economy! As a small business, you can do many things to make the most of the day – get the word out about your upcoming events and offer special promotions to get customers in the door!

Winter 2020 looked a bit different for small businesses. With pandemic restrictions, limited outdoor spaces, and an uncertain economy, businesses need to get even more creative to sustain sales and revenue. To see how small businesses prepared for the winter, we asked for their strategies!

These were the top takeaways:

What is the biggest challenge your business will face this winter?

43%

say the biggest challenge their business will face this winter is state-mandated shutdowns.

40%

say it will be reduced spending as a result of the pandemic.

Small Business Survey

Survey Insights

The pandemic has impacted consumer spending habits and shutdowns can have a huge impact on your bottom line. Ensure you have a plan in place if there are more mandatory shutdowns and a strategy for alternative revenue streams for your business, if possible.

How is your business adjusting/preparing for this winter?

47%

are offering special promotions and discounts

41%

are increasing marketing campaigns

36%

are selling gift cards

33%

are preparing curbside pickup or at-home delivery

Small Business Survey

Survey Insights

Special promotions and discounts can get consumers back in the door – or on your website. Small business owners must make sure they don’t become “out of sight, out of mind” this winter. Visibility is everything when consumers are not visiting/shopping in person. Offering other revenue streams like gift cards, curbside pickup, or at-home delivery can be a great way to prevent revenue loss.

After the shutdowns, did your business make any changes to prepare for future disruptions?

81%

of respondents said YES

16%

said NO

Small Business Survey

Survey Insights

Prepartion is key – for small businesses that primarily provide in-person services, curbside pickup may not feel worth the effort. However, this year, any revenue delivery of products helps. Salons can create bundles of hair products, groomers can make DIY bath kits and spas can mix at-home face masks.

If YES, what changes were made to improve business resilience?

29%

Invested in more or new technology

23%

Expanded business houses

18%

Updated their company website

Small Business Survey

Survey Insights

Investing in new technology is a great move! During the shutdown, many small businesses found that pen and paper system hindered them. By modernizing paper-only methods with digital solutions, small businesses can eliminate many of the bottlenecks that compromise their ability to react to crises.

Do you believe your local government is doing enough to support small businesses?

70%

of respondents said NO

12%

said YES

Small Business Survey

Survey Insights

Our nation’s small businesses are facing an unprecedented economic disruption. In addition to traditional SBA funding programs, the CARES Act and subsequent legislation established several new temporary programs to address the COVID-19 outbreak.

After a stressful year like 2020, small businesses deserve a break. DaySmart surveyed our small business customers to understand how they will continue evolving in the “new normal” of 2021.

Luckily, it looks like work/life balance will be a major focus in the upcoming year:

How long do you think it will be until business is “back to normal?”

24%

think business will be back to “normal” in less than 6 months.

But 19%

think it will take more than 1 year!

Business Survey

Survey Insights

Some small businesses are hopeful there is an end in sight with nearly a quarter of all respondents thinking business will be back to “normal” in less than 6 months. With various vaccinations being approved in the USA and across the world, let’s hope they’re right.

After a stressful year like 2020, will you be prioritizing work-life balance for you and/or your staff in 2021?

67%

of respondents say they will prioritize work-life balance for themselves and their staff.

Only 7%

said they will not be.

Small Business Survey

Survey Insights

After a stressful year like 2020, we’re glad to see nearly 70% of respondents say they will prioritize work-life balance in 2021. 26% were unsure – we think this will be dependant on the effect of the pandemic in 2021.

What changes will you make to prioritize work-life balance in 2021?

34%

more than one-third said they plan to implement new technology tools!

25%

are investing in employee wellness.

22%

are hiring new roles.

Small Business Survey

Survey Insights

Implementing new technology tools will help you streamline tasks and free up employees to ensure you can enjoy a work-life balance! Technology tools can include integrated payment processing, online booking, chatbots, automated marketing, text confirmations, and reporting.

How has the pandemic impacted how often your customers tip employees for their services?

63%

of respondents say that customers tip their employees just as often or more often.

26%

say customers have been tipping less often.

Survey Insights

It seems the recession has hurt customer’s ability to tip, with 26% saying they’re tipping less often. This is tough on industries that rely on gratuity as a major source of income. Some small business owners might consider offering small stipends or perks to help workers get through the winter.

Have the size of customer’s tips changed over the past few months?

44%

of respondents said that tips are the same amount.

28%

said they are smaller amounts.

15%

said they are larger amounts.

Survey Insights

45% of respondents say that
customers are tipping the same amount of money and 29% say they are tipping smaller amounts. Seeing as small businesses already don’t have much room in the budget, utilize your software to try and cut costs. Optimize appointment booking, automate payment processing, run reports, and enhance employee experience.