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SMEs optimistic about their recovery: Survey
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SME Times News Bureau | 25 Sep, 2020
Around 80 per cent of Indian small business owners are optimistic that
their business will survive the Covid-19 pandemic and 71 per cent say
that they are confident of the measures taken to gain consumer trust,
according to the survey by American Express.
Further, the survey
also showed that around 63 per cent consumers are optimistic about
resuming their pre-Covid shopping habits in the next 3-6 months.
The
survey examined the impact of the pandemic on the country's small
businesses, and their plans for business continuity by adopting new
approaches aligned with the changing consumer preferences.
"Contactless
payment and delivery methods, social media marketing and communication
and in-store safety and hygiene stand out as focus areas for small
businesses to build business resilience and trust with consumers," an
American Express statement said.
Manoj Adlakha, SVP and CEO,
American Express Banking Corp India said, "With the lockdown
restrictions easing it is heartening to see small businesses and
consumers being optimistic about returning to pre-Covid shopping levels
while taking appropriate safety measures."
The survey reveals that 70 per cent consumers are likely to prioritise shopping from local small businesses as they open.
The
CEO, however, said: "While people are starting to head out again, small
businesses are still facing the challenge of getting consumers to
return at the levels they need. We have launched a 'Shop Small' campaign
to encourage shoppers to support the nation's resilient small
businesses and accelerate their recovery."
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