{"id":441967,"date":"2021-02-23T09:03:23","date_gmt":"2021-02-23T14:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=441967"},"modified":"2021-02-23T09:03:23","modified_gmt":"2021-02-23T14:03:23","slug":"new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/","title":{"rendered":"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic<\/b><\/p>\n<p>SAN JOSE, Calif.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAs the one-year anniversary of the global pandemic shut down approaches, a new survey of US small and midsize businesses (SMBs) released today by Bill.com (NYSE: BILL) found that 75 percent of small business owners (SBOs) are moving to introduce new products and services in an effort to drive growth as they navigate year two of COVID. The survey found that while over 4 in 5 (82 percent) believe economic uncertainty has hindered their business growth &#8212; nearly half (47 percent) believe their businesses will experience <b><i>growth<\/i><\/b> in the first quarter of 2021.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210223005304\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210223005304\/en\/<\/a><\/p>\n<p>\nAccording to Bill.com\u2019s survey, conducted with 1,000 United States small business owners with under 100 employees, only 13 percent say government assistance or loans would be most critical for them to grow in the current quarter, citing instead an easing of lockdowns (38 percent) and increasing owner involvement in day-to-day decision-making (26 percent) as the most important driving factors for growth.\n<\/p>\n<p>\nInstead of looking to outside factors for help at the start of the pandemic, 75 percent of SBOs answered that they took matters into their own hands. Actions taken included offering discounts and pricing changes (51 percent), new customer outreach (30 percent), new products or services (26 percent), customer and supplier negotiated payment terms (23 percent), and new business model pivots (19 percent).\n<\/p>\n<p>\nThe shift in focusing on revenue generation is in stark contrast to the early days of the pandemic when the focus was on cost-cutting and layoffs. In last year\u2019s survey by <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.pnas.org%2Fcontent%2F117%2F30%2F17656&amp;esheet=52383510&amp;newsitemid=20210223005304&amp;lan=en-US&amp;anchor=Proceedings+of+the+National+Academy+of+Sciences&amp;index=1&amp;md5=8edc9a48576b95dfe51eca3e61ab5c61\">Proceedings of the National Academy of Sciences<\/a> (PNAS) of more than 5,800 SMBs during the months of March and April 2020, 43 percent said they had closed their doors temporarily due to the pandemic and 39 percent said they had laid off employees in an effort to contain costs since January. In further contrast from the 2021 Bill.com survey findings where the focus was on revenue generation, the 2020 PNAS results showed that over 70 percent of respondents anticipated taking advantage of aid when asked about a program such as PPP, stating that they expected this funding to influence other business decisions &#8211; namely layoffs and the ability to stay in business altogether.\n<\/p>\n<p>\n\u201cOur findings show that the pandemic hasn\u2019t broken SMBs\u2019 resilient spirit and despite the challenges faced over the past year, they are moving from surviving the pandemic to now growing their business,\u201d said Ren\u00e9 Lacerte, Bill.com CEO and Founder. \u201cAs a champion of SMBs, we are leveraging our platform to deliver the innovation needed so that they can focus on more strategic opportunities.\u201d\n<\/p>\n<p>\nInterestingly &#8212; the degree of optimism of SMBs appears to vary based on generation differences. Millennial SBOs have the highest levels of optimism regarding growth in the next three months with 63 percent positive sentiment as compared to 43 percent for Gen X and just 34 percent for Baby Boomers. Millennials are the most likely to have begun a digital transformation at 80 percent, Gen Xers at 69 percent and Boomers at 54 percent. Regardless of age &#8212; the majority of SMBs are now fixated on growth with 85 percent of respondents saying it is more important than cutting costs in the coming year.\n<\/p>\n<p>\n\u201cDog walking service requests were impacted during the pandemic, so we had to work fast to offer new pet care solutions,\u201d said Alec Davidian, Chief Financial Officer at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwagwalking.com%2F&amp;esheet=52383510&amp;newsitemid=20210223005304&amp;lan=en-US&amp;anchor=Wag%21&amp;index=2&amp;md5=1945c889d2d4cbd7acfb5da1f1c63b2e\">Wag!<\/a>. \u201cWith the help of digital technology solutions like Bill.com, we were able to serve five times more pet parents daily through new virtual services like Wag! Health, pet care advice and remote training. We now have the infrastructure to continue providing these new support services and look forward to resuming in-person walks and services as the world opens up again.\u201d\n<\/p>\n<p>\nAdditional results reported from Bill.com\u2019s State of SMBs Survey are available <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fassets.ctfassets.net%2Fvlflpncani0f%2F48lSOmQ079jN21CBnPeveJ%2F09508456cf41db538dcfcc64bb97c68b%2Fwakefield-research-quickread-report-billcom.pdf&amp;esheet=52383510&amp;newsitemid=20210223005304&amp;lan=en-US&amp;anchor=here&amp;index=3&amp;md5=917db994fbabca5eb0c447164d3ecd68\">here<\/a>.\n<\/p>\n<p><b><span class=\"bwuline\">Methodology for survey<\/span><\/b><\/p>\n<p>\nThe Bill.com survey was conducted by Wakefield Research (wakefieldresearch.com) among 1,000 U.S. Small Business Owners with between 1 and 100 employees, between December 21st, 2020 and January 4th, 2021, using email and an online survey.\n<\/p>\n<p><b><span class=\"bwuline\">About Bill.com<\/span><\/b><\/p>\n<p>\nBill.com is a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses. Customers use the Bill.com platform to manage end-to-end financial workflows and to process payments. The Bill.com AI-enabled, financial software platform creates connections between businesses and their suppliers and clients. It helps manage cash inflows and outflow. The company partners with several of the largest U.S. financial institutions, the majority of the top 100 U.S. accounting firms, and popular accounting software providers. Bill.com has offices in Palo Alto, California and Houston, Texas. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bill.com&amp;esheet=52383510&amp;newsitemid=20210223005304&amp;lan=en-US&amp;anchor=www.bill.com&amp;index=4&amp;md5=ec2de03bcf8aecd0af8721451228e1cd\">www.bill.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210223005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210223005304\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210223005304\/en\/<\/a><\/span><\/p>\n<p>\nOriana Branon<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Obranon@hq.bill.com\">Obranon@hq.bill.com<br \/>\n<\/a><br \/>619-997-0299\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Data Management Technology Professional Services Small Business Other Technology Software Other Professional Services Networks Internet Mobile\/Wireless Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210223005304\/en\/810881\/3\/Bill.com_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic SAN JOSE, Calif.&#8211;(BUSINESS WIRE)&#8211; As the one-year anniversary of the global pandemic shut down approaches, a new survey of US small and midsize businesses (SMBs) released today by Bill.com (NYSE: BILL) found that 75 percent of small business owners (SBOs) are moving to introduce new products and services in an effort to drive growth as they navigate year two of COVID. The survey found that while over 4 in 5 (82 percent) believe economic uncertainty has hindered their business growth &#8212; nearly half (47 percent) believe their businesses will experience growth in the first quarter of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-441967","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic SAN JOSE, Calif.&#8211;(BUSINESS WIRE)&#8211; As the one-year anniversary of the global pandemic shut down approaches, a new survey of US small and midsize businesses (SMBs) released today by Bill.com (NYSE: BILL) found that 75 percent of small business owners (SBOs) are moving to introduce new products and services in an effort to drive growth as they navigate year two of COVID. The survey found that while over 4 in 5 (82 percent) believe economic uncertainty has hindered their business growth &#8212; nearly half (47 percent) believe their businesses will experience growth in the first quarter of &hellip; Continue reading &quot;New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-23T14:03:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210223005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic\",\"datePublished\":\"2021-02-23T14:03:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\\\/\"},\"wordCount\":875,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210223005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\\\/\",\"name\":\"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic - 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The survey found that while over 4 in 5 (82 percent) believe economic uncertainty has hindered their business growth &#8212; nearly half (47 percent) believe their businesses will experience growth in the first quarter of &hellip; Continue reading \"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-23T14:03:23+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210223005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic","datePublished":"2021-02-23T14:03:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/"},"wordCount":875,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210223005304r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/new-bill-com-survey-of-u-s-small-business-owners-reveals-optimistic-growth-outlook-for-2021-striking-a-different-tone-than-projections-at-start-of-pandemic\/","name":"New Bill.com Survey of U.S. Small Business Owners Reveals Optimistic Growth Outlook for 2021, Striking a Different Tone Than Projections at Start of Pandemic - 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