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This article was done in collaboration with Facebook. Over the past week through our collaboration with Facebook on the ‘Keep going. Keep growing.’ Program, we’ve seen the important role agencies can play in helping SMBs survive and thrive through difficult times. According to a recent Facebook study focused on SMBs, it was uncovered that SMBs globally are all facing similar issues as operations continue to face lower sales. In response to a decline in sales and cash flows, 30% of operating SMBs also had to reduce their workforces. Women-led SMBs were consistently harder hit than their men-led counterparts, likely as a result of their concentration in the most impacted sectors. Women-led SMBs were on average six percentage points more likely to be closed globally. ....
This article was done in collaboration with Facebook. Unsurprisingly, last year was one of the toughest years for many SMBs globally. According to a recent report by Facebook, SMBs worldwide continue to struggle with maintaining operations, with almost one quarter (24%) of SMBs surveyed reporting they were closed in February 2021. One inspiring SMB which continued to push through despite the tough economic conditions here in Singapore was Tinkle Arts, founded in 2000 by Charlene Chan. Chan, who initially launched the company as a hobby to help less fortunate communities, believes in creating art with heart, and employs six individuals with special needs who produce beautiful clay art. ....