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 - Seite 2

“Our findings show that the pandemic hasn’t broken SMBs’ resilient spirit and despite the challenges faced over the past year, they are moving from surviving the pandemic to now growing their business,” said René Lacerte, Bill.com CEO and Founder. “As a champion of SMBs, we are leveraging our platform to deliver the innovation needed so that they can focus on more strategic opportunities.”

Interestingly -- 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 -- 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.

“Dog walking service requests were impacted during the pandemic, so we had to work fast to offer new pet care solutions,” said Alec Davidian, Chief Financial Officer at Wag!. “With 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.”

Additional results reported from Bill.com’s State of SMBs Survey are available here.

Methodology for survey

The 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.

About Bill.com

Bill.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 www.bill.com.

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