Kabbage Small Business Recovery Report

Small businesses are open again! In a recent Kabbage survey, 57% of SMBs reported that they are fully operational. Many credit e-commerce and the Internet for their ability to resume operations. Kathryn Petralia, co-founder and president of Kabbage, explains how e-commerce and the Internet is helping small businesses thrive.

Time Stamps:
0:00 Donna Fuscaldo introduces Kathryn Petralia.
0:59 Kabbage co-founder Kathryn Petralia explains why e-commerce is driving the improvements for small businesses during the COVID-19 pandemic and how they were able to pivot online.
2:20 Petralia explains how businesses will maintain their online business models even once cities and towns across the country are reopened.
3:13 Fuscaldo asks Petralia what tools small business owners are using to grow their online businesses.
4:24 Petralia explains how it's not too late for small businesses that didn't embrace the Internet during the pandemic to do so now. She also comments on how a lot of businesses that aren't suited for e-commerce are using the Internet to market their services.
5:38 Petralia explains how some industries are faring better than others as we emerge from the pandemic. Petralia pointed to businesses that depend on an urban commuting workforce as one area that's suffering. She noted restaurants have figured out how to deliver food and help customers pick it up and as a result are doing better.
7:19 Petralia discusses other drivers of optimism among small businesses including stimulus, government financial aid, PPP loans, and vaccines.
8:15 Petralia discusses how there is a record number of business license applications despite the pandemic. In economic downturns, there are often new businesses starting up, she explained.

More than a year into the pandemic and signs are pointing to a recovery. COVID-19 vaccinations are widely available and cities across the country are reopening. A recent survey by Kabbage, the online lender owned by American Express, found 57% of small businesses are fully operational again. A big reason: e-commerce.
In this video, business.com Senior Finance Writer Donna Fuscaldo interviews Kathryn Petralia, co-founder and COO of Kabbage. Petralia explains how businesses are embracing e-commerce and digital tools to survive the pandemic. She also explains what else is fueling small business optimism, and the growth areas as we come out of the pandemic.

Donna Fuscaldo is a Senior Finance Writer for business.com

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