Survey reveals the latest small business growth strategies

Posted under: MSME
Date: 2023-11-23
Survey reveals the latest small business growth strategies

SMBs are looking “beyond Main Street” and “plan to prioritize cross-border sales,” according to the seventh edition of Visa's Global Back to Business Study. And it’s not only American businesses that have global growth in mind. The study examined consumers and small businesses in 10 international markets: Australia, Brazil, Canada, Germany, Hong Kong, Ireland, New Zealand, Singapore, the UAE, and the United States. The global move is powered, in part, by the adoption of new technologies by entrepreneurs, including digital payment solutions like cashless transactions. This is critical because the survey also reveals that 55% of consumers expect to increase their use of digital payments this year. Seventy-nine percent of the business owners surveyed say they’re focusing their growth strategies on “expanding into new geographies.” Small in-store and online retailers are even more ambitious, with 90% saying they see cross-border sales as an opportunity for growth.

Read more at: www.allbusiness.com