By 2024, small businesses could add $2.3 trillion to global GDP growth. This is great news for small businesses after 2020, during which 3 in 10 small businesses closed their doors. Moreover, a lot of small business growth is happening on the digital frontier. After creating millions of online microbusinesses in the past 2 years, 67% of business owners are planning to grow their business full-time.
Wanting to grow is natural, but not every business knows how. More than 80% of small and medium businesses (SMBs) are unprepared to handle a huge new client. 79% couldn’t accommodate 10 new clients in a single week. If a business isn’t prepared to hit it big, then it never will.
Why is this the case? A major issue is delegation. Many small business owners handle nearly every aspect of the business themselves. As a result, they’re terrified to go on vacation. Even for businesses with additional employees, 3 in 4 feel unready for their 2nd in command to take temporary leave. Businesses that can’t bear to share the workload won’t be able to expand into a major operation.
Building a resilient and scalable business through digital agency growth means optimizing tasks and making delegation a routine.