Facebook presented the second part of its global report on the state of small businesses.
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- SMEs from 50 countries are surveyed to learn about the impact COVID-19 is having on their business operations, the challenges they face, and the support and adaptation mechanisms they use to survive, cope and adapt.
The Future of Business is an ongoing collaboration between Facebook, the OECD and the World Bank to survey small and medium-sized enterprises (SMEs) with a Facebook page worldwide every two years.
These efforts lead to the Global Small Business Condition Report, surveying SMEs from more than 50 countries and regions monthly from May to October 2020 for timely information on the impact of COVID-19 on their business operations, the Challenges they face and the support and adjustment mechanisms that they survive, cope with and adapt to.
The aim of this research is to empower SMEs, assess how their situation is changing, and in turn, provide evidence that will enable them to become resilient.
Situation in Mexico
These are some of the key findings.
- 71% of SMEs run by women in Release 2 (versus 53% in Release 1) and 78% of SMEs run by men in Release 2 (versus 68% in Release 1) with a presence on Facebook reported that they were engaged in or some income-generating activities participated in it.
- 75% of Shipment 2 (versus 61% in Shipment 1) reported doing or participating in income generating activities.
- 64% of Release 2 (versus 66% of Release 1) said their sales last month were lower than the same month last year.
- 36% of Shipment 2 (versus 34% in Shipment 1) said they had reduced staff / workers as a result of the COVID-19 pandemic.
- 32% of Shipment 2 (versus 30% in Shipment 1) expect cash flow to be challenging in the months ahead.
- 46% of Shipment 2 (versus 57% of Shipment 1) said 25% or more of their sales were made digitally in the last month.
- 61% said they were optimistic about the future of their business.
- 14% of SMEs said they were closed mainly because of financial challenges.
- 4% said they received financial support.
The 1 2020 report was sent via Facebook between May 28 and 31, 2020 to owners and employees with at least 267 respondents in Mexico. Delivery 2 took place between June 24-30, 2020 with at least 390 respondents in Mexico.