The return of revenue for small/medium sized businesses
When will small and midsize businesses expect to see pre-pandemic revenue levels?
Sage study finds nearly three-quarters of small and midsize businesses expect to see pre-pandemic revenue levels by end of year.
After polling more than 10000 Finance leaders across American small and medium businesses, it also indicates that many intend to keep the new business strategies implemented during the pandemic.
While only one-in-three (30%) finance leaders expect to see revenue reach or exceed pre-pandemic levels by the end of June 2021, 73% expect to achieve this mark by the end of this year. Many businesses (56%) also expect vaccine rollout efforts to positively impact their business by October
Despite the economic turndown, 88% of businesses made some sort of charitable donation to their local community, and 49% are planning to further increase these programs next year – reinforcing their commitment to make charitable giving a priority.
Four in five (79%) businesses anticipate chief financial officers will have more influence on the direction and success of their business in 2021. In fact, respondents expect finance to play a more active role in technology-based decisions (40%) and strategic planning discussions (26%).