![]() ![]() If you want to be a core partner for this next generation of SMBs, it is especially critical to focus on building a long-term relationship that will set their business up for success. Stress your value proposition, highlight your proven track record with SMBs, and focus on being a long-term partner | All SMBs want a trusted relationship with the enterprises they rely on to run their business.To successfully attract and foster relationships with these SMBs, platform & enterprise partners need to: So different that we believe they represent a completely new SMB segment. So this new generation of SMBs represents an especially promising customer base.Įverything we've learned leads us to conclude that this new generation of small & medium business owners is different. Our previous research established a strong link between SMBs' digital savviness, their trust in enterprises, and consequent willingness to spend more on enterprise products and services. Next Generation SMB Survey, November 2021 We are all excited to continue to monitor this Next Generation of SMBs, welcome them to the block, and help them pursue their passions – Accenture will continue to keep a close eye on this segment and how to ensure their success.ġ Accenture Proprietary Research. And because of their digital savviness, this new SMB segment represents a massive growth opportunity for platforms & enterprises that can uniquely support these founders to turn their passion into a reality. And with the proliferation of low-code-no-code solutions, digitally capable SMB leaders will have an even greater technology advantage.Īs mentioned, our research shows that this new brand of SMBs is here to stay and will continue to grow in number as more potential founders rethink what they do as well as where and how they do it. ![]() The digital disparity between older and newer SMBs is particularly apparent in 2020, and we predict this tipping point in technical acuity will persist. We found these new SMBs are twice as digitally savvy as their more traditional SMB predecessors. This enthusiasm for technology reflects the digital fluency among the new generation of SMBs. Unsurprisingly, these SMBs considered "leveraging new technologies" a higher priority challenge to tackle in the next year relative to their predecessors (ranking it #4 priority vs #12, respectively). Leveraging new technologies is a front-and-center focus for this new generation of SMBs – nearly three-quarters plan to invest in digital capabilities in the coming year 1. ![]() One of the characteristics that has changed the most is the SMB's savviness with technology. To better understand these new SMBs, we dove into further analyzing the group of ~580 new founders and their businesses. Since we know these SMBs are fundamentally different than their predecessors, enterprises must learn as much as possible as quickly as possible to ensure they are holistically supporting this new, fast-growing segment. Based on our analysis, we believe the number of these "next generation" SMBs will continue to grow – as individuals are more focused on pursuing their own dreams/path and have the tools and capabilities at their fingertips to do so. The new SMBs they created are quite different from their predecessors they are digitally-savvy, have new goals & priorities, and are predominantly self-funded. We needed to know more – so Accenture surveyed approximately 5,800 professionals and found that nearly 1 out of every 10 individuals surveyed started a business in the last 3 years to realize their long-standing latent ambitions 1. Riding on the back of the 2020 work-from-home revolution, digital acceleration, and the great resignation, we saw a new type of founder (and a new type of SMB) rise from the ashes. It's official – the next generation of SMBs (small and medium-sized businesses) is here, and they are on the rise. ![]()
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