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SMB online presence - How it is changing?
The 2023 Siinda Landscape Study continues to build on the previous studies, tracking the online performance of the same SMBs across Europe over four years. The study includes the 25,000 businesses added in 2022 with the number of employees to see if there was a noticeable difference between large SMBs and small to micro SMBs' performance. The 2023 study continues to expand and now includes 30,000 SMBs from the United States to provide another comparison to European performance.
The datasets were analysed separately to ensure comparative data to the previous years' studies.
An important finding in the 2022 study was that the original dataset had shrunk by approximately 15% over two years. A study conducted by USC Berkley indicated that this would have been approximately double if government supports had not been introduced during the COVID pandemic.
In 2023, we saw an additional 6% decrease in the number of businesses in the study. Given the volatile nature of running a small business, this appears to align with expected business trends. However, a 2023 study by the European Commission showed that the economic value provided by SMBs did not out-pace inflation.