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ExtraitDon t have an account yet Sign up for a free trial How COVID 19 Has Affected Your Business A Survey of Small Business Owners Proves Innovation Adaptation During a Crisis Drive Business Success When the pandemic hit March 2020 and lockdowns forced many small businesses to close up shop we have to admit that for a time outlooks looked rather bleak But as a testament to the resilience and determination of US s entrepreneurs new post pandemic data shows that most SMBs small to midsize businesses have bounced back with the majority of owners feeling quite optimistic about the next 12 months In fact our survey of 500 SMB owners proves what we ve long suspected Innovation and adaptation are essential for business growth It takes a willingness to embrace change to experiment to adopt new strategies and techniques in order to overcome obstacles and find success An attitude of agility is key Overall business owners reported company growth over the last 12 months and are feeling hopeful 56 optimistic 39 positive 35 and excited 29 about the future Nearly 60 of these business owners reported company growth including across key underserved demographics like black owned 74 saw growth women owned 60 veteran owned 58 rural 57 Native American owned 52 and LGBTQ owned 48 businesses Generationally businesses owned by young people performed especially well of all businesses that reported growth 58 had owners under the age of 44 with Gen Z those born between 19972021 and millennial those born between 1981 1996 owners leading the pack How do you feel as a business owner Unsurprisingly those who grew their business in the last year expressed feeling more hopeful optimistic positive and excited about the upcoming year Conversely negative experiences breed negativity raising the question of whether this is a cause effect relationship or a self fulfilling prophecy Respondents who reported no business growth over the last year reported feeling frustrated 37 pessimistic 23 burned out 20 and sca