Wednesday, October 5, 2022

77% SMBs use facebook platform to generate their business revenues: report

According to reports, more than 77% of small and medium sized business (SMBs) use Facebook to generate their revenues. The Global State of Small Business 2022 interviewed 24,000 small and medium-sized business owners from 30 countries.

According to Facebook’s parent company META, the Global State of Small Business Report has designed to track the health of small businesses worldwide. The purpose of the survey was to gather data that may use for research and policy debates.

More than 18 percent of small businesses in South Asia reported a rise in employment due to the Covid-19 epidemic. Whereas, Pakistan had the highest rate at 26% compared to India’s 9%, which was the lowest.

Many small businesses in developing nations have turned to private sector financing. It is including non-government cash grants or loans from charities because the government has provided so little assistance.

Reports stated that 75% of women-led SMBs and 80% of men-led business worldwide use Facebook to generate revenues. More than a quarter of active SMBs on the Facebook platform reported increased sales than the same month a year ago.

For SMBs that are run by women have no university educated staff, the likelihood of reporting this is higher. SMBs headed by women are also more likely than SMBs managed by males to use digital tools for advertising and customer communication.

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