In the News: Small Businesses Expect Revenue Growth in 2021

People are emerging slowly but surely as an increasing number of the population is vaccinated. Ultimately this will improve the revenue of many small businesses. The Bank of America Small Business Owners Report for 2021 revealed that 60% of small businesses agree with this view, indicating that they expect their revenue to grow in 2021.

In this week’s report, 60% of Small Businesses Expect Revenue Growth in 2021 is the article that takes a look at the optimism small business owners are feeling as the pandemic begins to fade. According to the BofA report, business owners feel that the local and national economy will improve along with increasing revenues. And 21% of them also say they plan to hire new people in the next 12 months. The report goes on to reveal that small businesses have moved to digital solutions and used various funding sources to stay afloat during the pandemic.

This week we also take a look at the rising cost of healthcare and how it has slowed small business growth, the high cost of cyberattacks on small businesses, and the things you should know about the remote workforce.

Small Business Roundup – May 28, 2021

Here are some other stories making the news this week:

The rising cost of healthcare is slowing down the growth of small businesses

89% of small businesses think the cost of prescription drugs is too high. 55% of small businesses providing health care coverage to employees say high costs hinder growth opportunities. 63% of small business owners have an unfavorable view of pharmaceutical companies.

The average cost of a cyberattack for a small business is over $ 25,000

When it comes to cyber attacks, small business doesn’t mean small costs. Over the past twelve months, the average financial cost of a cyberattack on a small US company has been £ 25,612. This statistic was revealed by Hiscox’s Cyber ​​Readiness Report 2021.

Scheduling breaks from work? There is a good chance of interrupting anyway

When working remotely and having to manage your time, it’s not uncommon to overlook breaks. A new survey by online scheduling platform Doodle confirmed the mass neglect of the U.S. workforce for breaks. 72% of American employees admit to being less stressful by blocking their calendars.

Zoho CRM: From Post-Feedback to High-Level Service

Premier Ophthalmic has been providing optical office equipment sales and services for over 20 years. Around the same time Zoho started to take shape. The two companies’ travels have intersected for more than a decade.

What types of businesses should LLCs be?

When you first start a business, part of the process usually involves choosing the company structure. As you begin to review your options, you will quickly learn that there is a lot to choose from. It is important to conduct thorough research and think carefully about your goals when determining the ideal structure for your business.

Why are you so afraid of negotiating

I am constantly amazed at how many people in small business are afraid to negotiate almost anything. This can include situations ranging from the customer’s purchase price, the rental rate for his office, or any compensation to employees. Many leaders see negotiation as a form of conflict and seek to avoid it at all costs.

5 things to know about the remote workforce

The pandemic has forced many companies to require their employees to work from home. Now that the economy is starting to open up, companies have decided whether to maintain remote working arrangements. A survey by PwC found that 55% of employees expect to continue working from home even after the pandemic has passed. When making a decision, employers must consider the following factors.

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