SMBs Are Punching Above Their Weight Amid Global Competition

©iStock/yacobchuk

Despite the challenges competing against global rivals, more than 80 percent of small and medium-sized businesses (SMBs) reported maintaining or growing revenue in 2018.  This is according to the inaugural State of Small Business Global Report by TradeGecko, a cloud-based commerce platform for growing companies, in collaboration with Golfdale Consulting.

SMBs are the lifeblood of the global economy, making up over 95 percent of all firms and 60-70 percent of total employment. The report polled 573 product-centered commerce businesses from 24 countries around the world, including 383 from the United States, to lift the lid on the challenges and opportunities for small and medium-sized commerce businesses.

The survey shows that "small and medium businesses are punching above their weight when it comes to competing in the global market against large firms with big teams and big budgets."

To access the report and its findings, visit here.  For more information about the article, visit here.

from The Global Small Business Blog http://bit.ly/2FYHIMZ