Verizon Enterprise has launched its fifth annual State of Small Enterprise Survey, highlighting important traits in know-how adoption amongst small and midsize companies (SMBs). Performed by Morning Seek the advice of, the survey captures insights from 621 SMBs throughout the U.S. and underscores a rising reliance on know-how, together with synthetic intelligence (AI), to drive operations and overcome financial pressures.
The survey revealed that using AI amongst SMBs has greater than doubled, with 39% of respondents reporting energetic AI use in 2024 in comparison with simply 14% in 2023. Elevated familiarity with AI instruments has contributed to this surge, as companies discover automation to boost effectivity and streamline duties.
Expertise investments have additionally grown considerably, pushed by the necessity to help increasing on-line operations. Prior to now yr, 38% of respondents added digital parts to their companies, and 66% upgraded their web bandwidth to satisfy elevated calls for.
“Small enterprise homeowners are getting the hold of AI, discovering the way it can automate time-consuming duties and enabling them to focus extra on their core enterprise operations,” stated Aparna Khurjekar, Chief Income Officer, Enterprise Markets and SaaS, Verizon Enterprise.
Regardless of financial challenges, together with rising inflation and issues about monetary safety, SMBs stay optimistic about their future. Whereas 83% of respondents expressed anxiousness about inflation, and 62% voiced issues about their companies’ monetary stability, over half consider their monetary scenario will enhance within the coming months.
Brick-and-mortar retailers are additionally anticipating a robust vacation season, with 52% making ready for an in-store-first method—up 13 factors from final yr. Many are banking on elevated demand throughout Small Enterprise Saturday (59%) and all through the vacation season (73%).
The survey discovered that SMBs are more and more leveraging social media to interact prospects and drive gross sales. Fb stays the main platform, with 84% of respondents utilizing it for promotion and buyer interplay. Different platforms gaining traction embrace Instagram (67%), LinkedIn (64%), YouTube (64%), TikTok (57%), and X/previously Twitter (54%). Moreover, 39% of SMBs now function social media storefronts.
To help SMBs, Verizon Enterprise is providing a free “tech test” throughout Small Enterprise Days from October 14-20. These one-on-one consultations purpose to assist companies assess their know-how wants and determine tailor-made options. Promotions throughout this era embrace free 5G telephones for switching to Verizon Enterprise and as much as $300 off for bringing an current quantity.
Moreover, Verizon’s Small Enterprise Digital Prepared platform offers free digital abilities coaching and assets for SMBs, together with over 50 programs on AI, advertising, and monetary planning. This system, a part of Verizon’s objective to help a million SMBs by 2030, has already helped over 360,000 companies.