{"id":793830,"date":"2024-12-10T09:15:36","date_gmt":"2024-12-10T14:15:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/50-of-small-businesses-exit-a-challenging-2024-with-expectations-of-revenue-increases-heading-into-2025-according-to-thryvs-small-business-index\/"},"modified":"2024-12-10T09:15:36","modified_gmt":"2024-12-10T14:15:36","slug":"50-of-small-businesses-exit-a-challenging-2024-with-expectations-of-revenue-increases-heading-into-2025-according-to-thryvs-small-business-index","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/50-of-small-businesses-exit-a-challenging-2024-with-expectations-of-revenue-increases-heading-into-2025-according-to-thryvs-small-business-index\/","title":{"rendered":"50% of Small Businesses Exit a Challenging 2024 with Expectations of Revenue Increases Heading into 2025 According to Thryv\u2019s Small Business Index"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\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>50% of Small Businesses Exit a Challenging 2024 with Expectations of Revenue Increases Heading into 2025 According to Thryv\u2019s Small Business Index<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><i>Less than half of SMBs say their revenue increased over the past year; 50% expect revenue increases through Q1 2025<\/i><\/li>\n<li><i>A quarter expect a deteriorating economy to extend into 2025, down from 42% last year at this time<\/i><\/li>\n<li><i>The amount of SMBs likely to invest in technology and infrastructure jumped 61% year-over-year<\/i><\/li>\n<\/ul>\n<p>DALLAS&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nDespite 2024\u2019s economic punch, small businesses proved resilient with 40 percent experiencing revenue increases. They are also more optimistic entering the new year than they were a year ago at this time, according to the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.thryv.com%2Fpdfs%2Fguides%2F2024_SMB_Index_Guide.pdf&amp;esheet=54164267&amp;newsitemid=20241210905765&amp;lan=en-US&amp;anchor=2024+Small+Business+Index&amp;index=1&amp;md5=2ff20b92f41a6bdd1024f47280e41da4\">2024 Small Business Index<\/a> from <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.thryv.com%2F&amp;esheet=54164267&amp;newsitemid=20241210905765&amp;lan=en-US&amp;anchor=Thryv%26%23174%3B&amp;index=2&amp;md5=730ae0b84266c9915aef0c4336ff949a\">Thryv<sup>\u00ae<\/sup><\/a> (NASDAQ: THRY). The leading do-it-all small business software platform provider, Thryv surveyed 500+ small business owners and decision makers in various industries across the U.S. from September 4-13, 2024.<\/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\/20241210905765\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20241210905765\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20241210905765\/en\/2327066\/4\/smb-index-2024-revenue-horizontal-bar-graph.jpg\" alt=\"40 percent of small businesses say their revenue increased over the past year. (Graphic: Business Wire)\" \/><\/p>\n<p style=\"font-size:85%\">40 percent of small businesses say their revenue increased over the past year. (Graphic: Business Wire)<\/p>\n<\/div>\n<p>\nAlthough more than half (53 percent) of small businesses cited a deteriorating U.S. economy in 2024, their economic outlook is on a slight upswing entering 2025. While less than half (45 percent) expect the economy to improve, that is a 61 percent increase over last year at this time.<\/p>\n<p><b>The Role of Technology<\/b><\/p>\n<p>\nThe majority (66 percent) of small businesses plan to manage any expected lift in their business with existing staffing levels. Technology stands to play a role in how they will scale despite level headcounts: 29 percent of small businesses say they are likely to invest in equipment and infrastructure, a 61 percent increase over 2023. More than a third plan to increase their technology budget. Artificial Intelligence (AI) will also be a factor: 31 percent are currently using AI, but 43 percent expect to use AI in 2025, a 38 percent year-over-year increase.<\/p>\n<p>\n\u201cAs small businesses look to turn the page on an economically challenging 2024, a majority tell us they are holding their own against their competitors and half are expecting to see revenue increases over the coming months,\u201d said Joe Walsh, Chairman and CEO of Thryv. \u201cPlanned investments in technology and AI will help small businesses scale with existing staffing levels, pointing to a promising year ahead.\u201d<\/p>\n<p><b>2024 Challenges and Successes<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><span class=\"bwuline\">Degree of Difficulty<\/span>: when asked if it has been more difficult or easier to run their business today than it was a year ago, 51 percent say it is about the same, while 38 percent say it is more difficult. Only 11 percent say it is easier today than a year ago.\n<\/li>\n<li><span class=\"bwuline\">Economic Woes<\/span>: almost one-third worry efforts to control high inflation will not come fast enough to help their business.\n<\/li>\n<li><span class=\"bwuline\">Election Concerns<\/span>: just over half (53 percent) worried about the U.S. presidential election and its impact on the economy and government regulations.\n<\/li>\n<li><span class=\"bwuline\">Revenue Changes<\/span>: 40 percent of SMBs say their revenue increased over the past year.\n<\/li>\n<li><span class=\"bwuline\">Competitive Strength<\/span>: an impressive 82 percent say they hold their own against their competitors.\n<\/li>\n<li><span class=\"bwuline\">Employee Count<\/span>: only roughly 14 percent have decreased headcount.\n<\/li>\n<\/ul>\n<p><b>Looking Ahead to 2025<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><span class=\"bwuline\">Revenue Expectations<\/span>: 50 percent expect their revenues to increase in Q1 of 2025.\n<\/li>\n<li><span class=\"bwuline\">Profit Margins<\/span>: 47 percent expect their profit margins to remain level; 39 percent expect their profit margins to increase; 14 percent expect a decrease.\n<\/li>\n<li><span class=\"bwuline\">Economic Outlook<\/span>: when asked what their expectations are for the U.S. economy over the next 6 months, 45 percent expect it to improve; 30 percent expect it to remain the same; 25 percent expect it to deteriorate.\n<\/li>\n<li><span class=\"bwuline\">Investing in their Business<\/span>: 43 percent are likely to invest in equipment or infrastructure; 29 percent are unlikely to make those investments; 28 percent are indifferent.\n<\/li>\n<li><span class=\"bwuline\">Technology Investment<\/span>: 57 percent expect their software budget to remain the same; 37 percent plan to increase their investment; only 6 percent expect to decrease budget.\n<\/li>\n<li><span class=\"bwuline\">Employee Count<\/span>: 66 percent expect to keep their headcount the same; 28 percent expect to increase it; only 6 percent expect a decrease in headcount.\n<\/li>\n<\/ul>\n<p><b>Why They Do What They Do<\/b><\/p>\n<p>\nWhen asked what best describes why they opened their business, 48 percent say it has always been their dream to be self-employed.<\/p>\n<p>\nThis description aligns with answers received to the question: what brings you the most joy from owning your own business:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\n35 percent say being their own boss<\/p>\n<\/li>\n<li>\n29 percent say making a living doing something they love<\/p>\n<\/li>\n<li>\n14 percent say creating something that fills a need for people<\/p>\n<\/li>\n<li>\n13 percent say having a work\/life balance<\/p>\n<\/li>\n<li>\n9 percent say providing employment for others<\/p>\n<\/li>\n<\/ul>\n<p>\n\u201cBeing your own boss is a dream that comes with a unique set of challenges. That\u2019s where marketing automation and operations technology can step in, helping those dreamers achieve sustained growth so they can focus on doing what they love,\u201d said Walsh.<\/p>\n<p>\nTo access the 2024 Thryv Small Business Index, visit: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.thryv.com%2F2024-smb-index%2F&amp;esheet=54164267&amp;newsitemid=20241210905765&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.thryv.com%2F2024-smb-index%2F&amp;index=3&amp;md5=882a24be6ea6b97c9b5b330b5595b663\">https:\/\/www.thryv.com\/2024-smb-index\/<\/a>.<\/p>\n<p><b>Study Methodology<\/b><\/p>\n<p>\nThryv conducted the research from an online survey of 507 small business owners and decision-makers in various industries across the United States. All respondents met the following criteria: business owner and\/or decision maker over the age of 21. Business size is less than 100 employees with approximate annual revenue ranging from $100,000 to $10,000,000. Businesses surveyed have been operational for at least one year.<\/p>\n<p><b>About Thryv<\/b><\/p>\n<p>\nThryv Holdings, Inc. (NASDAQ:THRY) is the provider of the leading do-it-all small business software platform that empowers small businesses to modernize how they work. It offers small business owners everything they need to communicate effectively, manage their day-to-day operations, and grow \u2014 all in one place \u2014 giving up to 20 hours back in their week<sup>1<\/sup>. Thryv\u2019s customizable platform features three centers: Thryv<sup>\u00ae<\/sup> Command Center, a freemium central communications hub, Thryv Business Center\u2122 and Thryv Marketing Center\u2122. Approximately 300,000 businesses globally use Thryv software to connect with local customers and take care of everything they do, start to finish. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.thryv.com&amp;esheet=54164267&amp;newsitemid=20241210905765&amp;lan=en-US&amp;anchor=www.thryv.com&amp;index=4&amp;md5=07732b1f27b4da5c65205842e6c6d849\">www.thryv.com<\/a>.<\/p>\n<p><sup>1<\/sup> Based on Thryv survey sample of 181 clients. Calculations assume a 40-hour work week. Results may vary.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241210905765r1&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\/20241210905765\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20241210905765\/en\/<\/a><\/span><\/p>\n<p><strong>Media Contact:<br \/>\n<\/strong><br \/>Julie Murphy<br \/>\n<br \/>Thryv, Inc.<br \/>\n<br \/>617.967.5426<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:julie.murphy@thryv.com\">julie.murphy@thryv.com<\/a><\/p>\n<p><strong>Investor Contact:<br \/>\n<\/strong><br \/>Cameron Lessard<br \/>\n<br \/>Thryv, Inc.<br \/>\n<br \/>214.773.7022<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:cameron.lessard@thryv.com\">cameron.lessard@thryv.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Texas United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Finance Marketing Communications Professional Services Small Business Software Data Analytics Data Management<\/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\/20241210905765\/en\/1268646\/3\/Thryv_220x123px_Meltwater.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20241210905765\/en\/2327066\/3\/smb-index-2024-revenue-horizontal-bar-graph.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">40 percent of small businesses say their revenue increased over the past year. (Graphic: Business Wire)<\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20241210905765\/en\/2327070\/3\/smb-index-2024-us-economy-next-6-months.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">45 percent of small businesses expect the economy to improve heading into 2025. (Graphic: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>50% of Small Businesses Exit a Challenging 2024 with Expectations of Revenue Increases Heading into 2025 According to Thryv\u2019s Small Business Index Less than half of SMBs say their revenue increased over the past year; 50% expect revenue increases through Q1 2025 A quarter expect a deteriorating economy to extend into 2025, down from 42% last year at this time The amount of SMBs likely to invest in technology and infrastructure jumped 61% year-over-year DALLAS&#8211;(BUSINESS WIRE)&#8211; Despite 2024\u2019s economic punch, small businesses proved resilient with 40 percent experiencing revenue increases. They are also more optimistic entering the new year than they were a year ago at this time, according to the 2024 Small Business Index from Thryv\u00ae (NASDAQ: THRY). The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/50-of-small-businesses-exit-a-challenging-2024-with-expectations-of-revenue-increases-heading-into-2025-according-to-thryvs-small-business-index\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;50% of Small Businesses Exit a Challenging 2024 with Expectations of Revenue Increases Heading into 2025 According to Thryv\u2019s Small Business Index&#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-793830","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>50% of Small Businesses Exit a Challenging 2024 with Expectations of Revenue Increases Heading into 2025 According to Thryv\u2019s Small Business Index - 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\/50-of-small-businesses-exit-a-challenging-2024-with-expectations-of-revenue-increases-heading-into-2025-according-to-thryvs-small-business-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"50% of Small Businesses Exit a Challenging 2024 with Expectations of Revenue Increases Heading into 2025 According to Thryv\u2019s Small Business Index - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"50% of Small Businesses Exit a Challenging 2024 with Expectations of Revenue Increases Heading into 2025 According to Thryv\u2019s Small Business Index Less than half of SMBs say their revenue increased over the past year; 50% expect revenue increases through Q1 2025 A quarter expect a deteriorating economy to extend into 2025, down from 42% last year at this time The amount of SMBs likely to invest in technology and infrastructure jumped 61% year-over-year DALLAS&#8211;(BUSINESS WIRE)&#8211; Despite 2024\u2019s economic punch, small businesses proved resilient with 40 percent experiencing revenue increases. They are also more optimistic entering the new year than they were a year ago at this time, according to the 2024 Small Business Index from Thryv\u00ae (NASDAQ: THRY). 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They are also more optimistic entering the new year than they were a year ago at this time, according to the 2024 Small Business Index from Thryv\u00ae (NASDAQ: THRY). 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