PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Morning Consult Research: “Small businesses have built people’s trust” during COVID-19

By at 19 July, 2020, 1:14 pm

Small Business Insider

By Karen Kerrigan-

It is great to see the collective work of small businesses everywhere translate into high trust among the public in terms of their preference for shopping and where they feel safe.

Years of Gallup surveys have found that small business only ranks second to the military in terms of “institutions” Americans trust the most. That high trust has carried over in the COVID-19 economy, according to a Morning Consult/Bloomberg survey.  As noted in the article that details the survey, there’s a “new austerity” brewing among consumers, which could potentially remain in place “for the long haul.”

The good news for small businesses is that consumers feel the safest in grocery stores and small businesses when it comes to shopping: “And that new preference for smaller retailers appears to have staying power: Even once the pandemic ends, nearly 30% of Americans say they plan to buy more from small businesses than they did before the virus.”

Entrepreneurs and small business owners need to take advantage of this dynamic and use every tool possible to communicate with customers and potential customers about what they are doing to operate safely, how they are meeting consumers “where they are,” and searching for innovative ways to provide solutions and meet emerging needs.

Karen Kerrigan is president & CEO of the Small Business & Entrepreneurship Council   

 

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