Nearly half (46%) of small business owners and marketers say they've had to cut back on expenses this year to mitigate the impact of inflation, according to recent research from Constant Contact and Ascend2.
The report was based on data from a survey conducted in 2024 among 1,600 owners and marketers at SMBs (firms with 250 or fewer employees) in Australia, Canada, New Zealand, the United Kingdom, and the United States. The researchers also surveyed 3,059 consumers age 18 and older in the same countries.
Other approaches SMBs have taken to mitigate the impact of inflation include increasing prices (39% of respondents say their firm has done so), improving operational efficiency (24%), and focusing more on customer retention (22%).
About the research: The report was based on data from a survey conducted in 2024 among 1,600 owners and marketers at SMBs (250 or fewer employees) in Australia, Canada, New Zealand, the United Kingdom, and the United States. The researchers also surveyed 3,059 consumers age 18 and older in the same countries.
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