by Praveen Bhadada, Managing Partner, Zinnov; Peter Kirkwood, Principal, Zinnov; Amshudhar Grandhi, Consultant, Zinnov
Did you know, Small and Medium Businesses (SMBs) drive 44% of the United States’ economy and 65% of job creation? In recent times, these SMBs have gone through major changes – thanks to rapid technological adoption, in the wake of COVID-19. There is now a generation of digital-savvy business owners, and equally tech-savvy customers who expect seamless experiences from businesses. Hence, more and more SMBs are investing in digital technology solutions, and ISVs (Independent Software Vendors) have an opportunity to capitalize on this accelerated digital adoption train.
Interestingly, the top priority for SMBs in their digital solution purchasing decisions is to minimize risk, and disruption of new technology deployment. And for this, they trust peers, IT teams, and System Integrators more than they place trust on ISVs for product advice.
This latest and comprehensive Zinnov report titled, “US SMB Market – Preparing for the Next Disruption,” aims to provide an expansive view and evaluation of the SMB market in the United States, as they focus on building resilience like never before.
Key learnings from our month-long study on the subject:
- 62% SMBs manage their own tech
- 59% of the SMBs are actively planning for a crisis in the future – such as a pandemic or a recession
- There is a 30% increase in e-Commerce as a part of all Retail, as compared to the pre-COVID era
- A 14% increase in exports is projected if SMBs had better access to export markets. And yet, 73% of SMBs remain unaware of the digital tools to support this process
- 70% of large SMBs spend more on tech than their smaller counterparts
- 58% SMBs buy simple – they look at ease of buying, risk of purchase, deployment, and operations
- 47% of the SMBs feel the need for better understanding of how tools work, so that they can leverage their data better.
Here is an overview of what you can find inside:
- The US SMB Market Overview
- Recent Trends and Developments
- Emerging priorities post-COVID
- IT Buying Behavior
This report outlines a comprehensive playbook for SMB owners that will help them customize their digital strategy for the current times.
Read our report
US SMB Market – Preparing For The Next Disruption
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