While the pandemic hurt many businesses, others quickly switched gears and tried new tactics to boost sales. The latest Small Business Recovery Report issued by Kabbage from American Express tracked the trends and growth outlook of U.S. small businesses and how they were able to increase revenue.
Polling 550 small business leaders, the report shows that those surveyed have nearly doubled monthly revenue between July 2021 and July 2022, while profits slightly declined amidst economic hurdles. They are facilitating growth by modifying their business tactics — offering increased benefits and flexibility for workers along with investing in digital transformation.
