Monday, 10 May 2021 14:59

Six in ten small businesses expect COVID-19 vaccines to boost profits

By giniPredict

Guest Research: Research released today by giniPredict, a powerful AI-fuelled forecasting tool, points to the pent-up demand anticipated by the world’s small businesses once vaccination programmes begin to take effect — more than six in ten small businesses (63%) expect profits to increase once the country is fully vaccinated with almost half (44%) forecasting growth of 10% or more.

Half of respondents expect to see the boost to profits during the course of 2021, with 30% expecting the rise in the third quarter of the year, and 20% in the fourth. Some respondents are even more optimistic with 18% anticipating the rise in the current quarter, with the same percentage expecting it to kick in next year.

While the report highlights upbeat expectations around the positive impact of recovery, it also lays bare the scale of the hardship inflicted on small business owners by the pandemic and the toll it has taken on mental health. Almost two-thirds (64%) have suffered sleepless nights. Despite rising death tolls and grim headlines, a majority of small business owners reported being more anxious about the future of their businesses (cited by 52%) than about death from the coronavirus (cited by 32%).

The survey also reveals that small business owners are broadly supportive of the actions taken by government to mitigate the impact of the virus and lessen the economic damage - just under half (46%) believe that these actions helped their businesses to survive or even grow, compared to 28% who felt that the actions harmed them.

giniPredict CEO Ray Wyand said: “Small businesses are the bedrock of the economy. It's a positive and welcome sign to see the degree of optimism and confidence that small business owners have in their prospects once vaccination programmes have been fully rolled out. We’re not out of the woods yet, of course, and they’re going to have to remain alert, stay agile and ensure that their business forecasts reflect constantly shifting realities.”

He continued: “The giniPredict business forecasting tool is currently available for free to support these hard-hit businesses - who are going to need all the help they can get."

Click here to read the full report.

Image: US Secretary of Defense via Flickr (CC BY 2.0)


Subscribe to ITWIRE UPDATE Newsletter here

GRAND OPENING OF THE ITWIRE SHOP

The much awaited iTWire Shop is now open to our readers.

Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.

PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.

Products available for any country.

We hope you enjoy and find value in the much anticipated iTWire Shop.

ENTER THE SHOP NOW!

INTRODUCING ITWIRE TV

iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.

We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.

In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.

We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.

See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.

SEE WHAT'S ON ITWIRE TV NOW!

BACK TO HOME PAGE
Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments