05/13/2024

Without AI, Small Business Worry They'll be Left Behind

Surveys find small firms are investing in digital commerce

Small businesses involved in B2B ecommerce face multiple challenges in 2024, but nearly all of them feel positive overall about the economy, Amazon Business found in a recent survey.

Ninety-three percent of small businesses in the United States are "hopeful" about the state of economy this year, despite lingering concerns among many regarding inflation (50 percent), high operations and labor costs (42 percent) and supply chain distribution challenges (41 percent), Amazon Business found in the Small Business Survey of “450-500” small-business decision-makers.

The survey found that, to grow their business, these decision-makers are focusing on increasing their procurement budgets (65 percent) and investing in procurement tools (49 percent); 68 percent said there “is room for optimization in their procurement operations,” Amazon said.

Please select this link to read the complete article from Digital Commerce 360.