Thryv survey finds concern among small businesses over COVID’s negative economic impact
September 08 2021 - 7:30AM
Concern over the negative impacts of COVID remains high among
America’s small businesses, with 82 percent reporting in a recent
survey that they are at least “somewhat” concerned.
The survey, conducted by Thryv Holdings, Inc. (NASDAQ:THRY), the
provider of Thryv® software, the end-to-end customer experience
platform built for growing small businesses, polled over 750 owners
and managers of small businesses. In addition to economic concerns,
the survey also revealed that as vaccination rates across the U.S.
grow, small businesses are debating whether to mandate vaccination
among employees – with a majority (58 percent) responding that they
do not plan to require vaccination.
Among the findings of the survey:
- 60 percent of respondents think the U.S. will experience either
a mild or deep recession within a year.
- Among those that have attempted to hire new employees, only 38
percent have succeeded.
- 76 percent say it is “somewhat” or “very” much more difficult
to hire new employees now, compared to prior to the pandemic.
- About half of those that have employees, or are trying to hire
new ones, have recently offered higher wages, with hikes as high as
15 percent.
- 82 percent of small businesses said they have recently
experienced shortages – of supplies, materials, inventory, or
workers.
- 31 percent say they have had to turn customers away because of
the shortages.
"Small business owners welcomed the vaccine roll-out, but many
are again concerned as the pandemic drags on and restrictions and
lockdowns again become commonplace ," said Thryv Chief Strategy
Officer Gordon Henry. “On top of these COVID-related concerns,
small businesses are having difficulty hiring help and accessing
supplies. We encourage decision makers to take the steps needed to
help local businesses get back to something approaching
normality.”
Thryv — a global SaaS and marketing solutions company with over
400,000 small business clients worldwide — and America's SBDC
conducted the nationwide small business study as part of an ongoing
effort to track small-business economic outlook amid the ongoing
pandemic.
Survey participants are owners or senior managers of small
businesses across more than 50 industries. The majority of these
businesses are well established. Fifty-five percent have been in
operation for over 30 years. Half have annual revenue below
$500,000. Female and minority-owned businesses represent 35 percent
of those completing the survey.
About Thryv Holdings, Inc.
The company owns the easy-to-use Thryv® end-to-end customer
experience software built for small business that helps over 40,000
SaaS clients with the daily demands of running a business. With
Thryv, they can get the job, manage the job and get credit. Thryv’s
award-winning platform provides modernized business functions,
allowing small-to-medium-sized businesses (SMBs) to reach more
customers, stay organized, get paid faster and generate reviews.
These include building a digital customer database, automated
marketing through email and text, updating business listings across
the internet, scheduling online appointments, sending notifications
and reminders, managing ratings and reviews, generating estimates
and invoices and processing payments.
Thryv supports franchise operators and multi-location business
owners with Hub by Thryv™, a software console that enables business
managers to oversee their operations using the Thryv software.
Thryv also connects local businesses to consumer services
through our search, display and social media management products,
our print directories featuring The Real Yellow Pages® tagline, and
our local search portals, which operate under the DexKnows.com®,
Superpages.com® and Yellowpages.com URLs and reach some 35 million
monthly visitors. For more information about the company, visit
thryv.com.
Thryv delivers business services to more than 400,000 SMBs
globally that enable them to compete and win in today’s economy.
Thryv acquired Sensis, Australia’s leading digital, marketing
and directory services provider, which helps Australians connect
and engage through its leading platforms, digital consumer
businesses (Yellow™, White Pages™, TrueLocal™ and Whereis™), search
engine marketing and optimization services, website products,
social, data and mapping solutions, and through its digital agency
Found™. Sensis is also Australia’s largest print directory
publisher including the Yellow Pages™ and White Pages™.
Headquartered in Melbourne, Sensis has a sales presence in all
states and territories across Australia.
Learn more about Thryv on LinkedIn and Medium.
Media Contact:
Paige Blankenship
Thryv, Inc.
214.392.9609
paige.blankenship@thryv.com
Investor Contact:
Cameron Lessard
Thryv, Inc.
214.773.7022
cameron.lessard@thryv.com
KJ Christopher
Thryv, Inc.
972.453.7068
KJ.Christopher@thryv.com
###
Paige Blankenship
Thryv, Inc.
2143929609
paige.blankenship@thryv.com
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