Despite the financial pressure caused by Covid-19, more than three quarters (77%) of small business owners invested additional budget into their companies during the Covid-19 pandemic. That’s according to the latest research from website building platform, Zyro.
The research, which surveyed 100 small business owners across the UK and US, looked to uncover how SME spending has changed as a result of Covid-19.
According to the research, improving websites and online stores has been the key priority for investment, with almost two thirds (61%) of small business owners stating they have increased their spending in these areas.
Many small business owners also looked to improve their marketing and advertising efforts during this time, with 1 in 5 (20%) launching new marketing campaigns and promotions. 15% also stated that they have increased their online advertising spend.
Commenting on the new research, Gytis Labašauskas, CMO at Zyro said “The Covid-19 pandemic has had a devastating impact on businesses all over the world — especially those without a digital presence. In the face of this adversity, it’s great to see so many SMEs recognising the importance of these digital channels and acting quickly to adapt their business models.
“Despite easing back to “normality”, we expect this migration towards digital channels to continue long after the pandemic. While brick and mortar stores are now reopening, both customers and businesses have seen the benefits of operating increasingly online. Given this new reality, it’s vital that small businesses keep pushing for better online experiences, and continue to improve their digital platforms. Those that do so will be best placed to secure and retain new customers in future.”
