Global State of Small Business
The Global State of Small Business Report, based on the Future of Business Survey, is an ongoing research collaboration by Facebook, the Organisation for Economic Co-operation and Development (OECD), and the World Bank to survey small and medium-sized businesses around the world over a six-month period in the context of COVID-19. The aim of these 2020 surveys, together with the associated reports and updates, is to provide a window into SMBs’ experiences amid COVID-19. As we measure the pandemic’s effects on business closures, revenue, employment, and finances, we also gain insight into SMBs’ needs and challenges.
The Global State of Small Business Report was based on the first 2020 wave of the Future of Business Survey, which was conducted May 28–31, 2020, and included more than 30,000 SMB owners, managers, and employees in more than 50 countries and regions. The results provided a helpful initial benchmark of the widespread effects of the pandemic, including marked reductions in sales and employment for operational SMBs, as well as disproportionate effects on micro-businesses and female-led SMBs in regard to business closures. The research also provided useful insights into SMBs’ responses to these challenges, access to financial support, and near-term projections.
The Global State of Small Business Report: Wave II Update was based on a survey of more than 25,000 owners, managers, and employees in more than 50 countries and regions, conducted June 24–30, 2020. The Wave II update documented a partial return to business as the global economy started to recover from the pandemic, tempered by continuing impacts on SMB sales, employment, and financial constraints. The update also incorporated a deeper-dive analysis of trends in access to financing across countries and regions.
The Global State of Small Business Report: Wave IV Update was based on a survey of more than 25,000 owners, managers, and employees in more than 50 countries and regions, conducted August 24–31, 2020. The Wave IV update reflected ongoing economic uncertainty, fueled in part by an acceleration of COVID-19 infection rates in many countries and the prospect of the resumption or extension of lockdown restrictions. The survey showed a slowdown in the pace of recovery with regards to trends in closure rates, sales reductions, and employment reductions. The update also included an analysis of the pandemic’s disproportionate effects on female-led businesses as a result of women’s domestic and work-related constraints.
In recognition that market conditions are continuing to shift, Facebook, the OECD, and the World Bank will continue to update our research and share timely and relevant findings about SMBs’ experiences with COVID-19 around the world.