In the Most Challenging Time in History, SMB Pride Prevails

The pandemic has fundamentally changed our society’s perception of so many things, from hygiene to how we work, from schooling to social interaction. One thing it hasn’t changed? The willpower, passion and optimism of the founders and owners of SMBs.

In our October 2020 SMB Pulse Survey*, we asked 500 very small, small and mid-sized business owners whether the pandemic has changed their perception of what it meant to be a business owner.

While some are split between feeling like the pandemic altered their perceptions about running their own business for the better and for the worse, the plurality of VSBs and SBs say Covid-19 hasn’t shaken their ideals. At the midsized level, one in three feel better about being a business owner now than they did prior to the pandemic.

“At TriNet, we love to celebrate the unsung heroes of the American economy, small and medium-sized business owners, the ones who live the idea that People Matter” said Michael Mendenhall, SVP Chief Marketing Officer/Chief Communications Officer at TriNet. “And when we say that we are confident in the determination of this all-important demographic, it isn’t just wishful thinking. Our data proves it.”

This same optimism is reflected in broader workforce, among many ambitious “empowered employees” for whom the pandemic has catalyzed a new pursuit of passion. There’s a rising class of employees who are taking control of their careers and futures with a renewed emphasis on reskilling. What’s more? More than one in three U.S. office workers say they would consider starting their own business as a result of learning new skills during this new way of working.

SMBs have an opportunity to capitalize on the resurgence in entrepreneurial pride. And as employees of larger businesses leave their uninspiring or disappearing jobs, their next role might be with you.

* SMB Pulse, conducted with third-party research firm Bredin, surveyed 500 principals of U.S. companies between September 26 – October 13 with 1 to 500 employees, including: 250 Very Small Businesses (VSBs) with one to 19 employees (97.7% weighting); 150 Small Businesses (SBs) with 20 to 99 employees (2.0% weighting); 100 Mid-sized Businesses (MBs) with 100 to 500 employees (0.3% weighting). The data cited in the research represents the opinions of the survey respondents and not those of TriNet or its employees.