The New State of the SMB Workforce—Wave 2

As hybrid working environments become the new normal, small business decision makers are continuing to adopt new technologies for managing their workplaces and reaching target audiences. Decision makers are more likely than last year to say that digital transformation has positively impacted sales and growth.

In response to the pandemic, small businesses, like organizations everywhere, turned to technology to connect remote employees to business systems. Nearly three years later, our survey found small businesses have largely adapted to conditions brought on by the pandemic, but new challenges have emerged, such as retaining talent and preparing for an economic downturn.

Our study found that while technology upgrades helped small businesses weather the storm, remote work helped provide their employees with better work-life balance. In fact, small businesses are continuing to adopt and utilize new technologies for working remotely.

The small business decision makers we interviewed in 2022 were far more likely than 2021 survey respondents to say that digital transformation has had a positive impact on sales and growth. In fact, they have fortified their organizations for the future and, for the most part, are feeling optimistic about being able to weather whatever lies ahead.