GlobalStateofSmallBusinessReport.pdf - Global State of...

This preview shows page 1 - 4 out of 49 pages.

FACEBOOK, THE ORGANISATIONFOR ECONOMIC CO-OPERATIONAND DEVELOPMENT& THE WORLD BANKGlobal State ofSmall BusinessReport
The opinions expressed and arguments employed herein are those of the authors anddo not necessarily reflect the official views of the OECD, the World Bank Group, or any ofthe governments of their member countries.This document, as well as any data and any map included herein, are without prejudice tothe status of or sovereignty over any territory, to the delimitation of international frontiersand boundaries, and to the name of any territory, city, or area.The names of countries and territories used in this joint publication follow the practice ofthe World Bank.Please cite this document as:Facebook/OECD/World Bank (2020), The Future of Business Survey, available at:dataforgood.fb.com/global-state-of-smb.Disclaimer
F O R E W O R D |3This is the first report in an ongoing series that will spotlight the situation facing businessesaround the world. It is based on a survey of more than 30,000 small business leaders frommore than 50 countries – and what they told us was sobering.More than a quarter said they had closed between January and May this year – and that figurerose to more than 50% in some countries. A third of those currently operating reported thatthey had reduced their workforces, a worrying sign of what could be a lengthy jobs crisis.Nearly two-thirds of those in operation say sales are down on the same period last year – inmany cases significantly so.The survey shows that consumer-facing sectors like tourism and hospitality have taken thebrunt of changes in consumption and consumer sentiment – for example, reduced travelspending – with around half of businesses in these sectors reporting that they had closed.The smallest businesses, those owned and operated by one person, have closed at a greaterrate than others.The report also exposes a stark gender disparity. Female-led businesses are 7 percentagepoints more likely to be closed compared to male-led ones and are significantly more likely tobe concentrated in the sectors most affected by public health restrictions on business. In fact,the stricter the restrictions are, the more female-led businesses close their doors compared tothose run by men.Still, entrepreneurs are resilient people, and many are optimistic about the future. Nearlythree-quarters of those that were closed at the time of the survey expect to reopen asrestrictions are lifted. The path to recovery is highly uncertain and many may need supportfrom governments and other institutions to get back on track. We hope this report will help toidentify areas where that support can make the biggest difference.Sheryl SandbergCOO, FacebookPaul SchreyerActing Chief Statistician and Acting Director, OECD Statistics and Data DirectorateRita RamalhoSenior Manager, Global Indicators Group, Development Economics, World BankForewordSmall businesses are the unsung heroes of the global economycreating

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 49 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Spring
Professor
Arthur
Tags
Business

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture