Verizon Business Second Annual Latino Small Business Survey Highlights Optimism and Digitalization
23 Avril 2024 - 3:00PM
To punctuate Small Business Days, which runs from April 22-28,
Verizon Business revealed the results of its second annual Latino
Small Business Survey, which solicited responses from 500 Latino
small business owners (SBOs), as well as 500 non-Latino SBOs.
Conducted by Morning Consult, the survey found that Latino SBOs are
optimistic despite economic concerns as compared to general market
small business owners and are prioritizing technology investments
while balancing cybersecurity concerns.
“Like many small businesses, Latino small businesses have
continued to thrive by doubling down on technology and finding new
ways of working, and the survey data backs this trend,” said Aparna
Khurjekar, Chief Revenue Officer, Business Markets and SaaS, at
Verizon Business. “Their optimism in terms of both the outlook of
their business and the role that technology plays in fueling their
growth is inspiring. We are excited to welcome these Latino small
business owners and all small businesses in-store during our Small
Business Days to provide them with the resources, tools, and
counsel to support their growth trajectory.”
A growing economic optimism compared to non-Latino
SBOsThe survey showed a stark difference in terms of
economic outlook between Latino SBOs and the general SBO
marketplace. In fact, 74% of Latino SBOs expected the financial
security of their business to improve over the next few months, as
opposed to 57% of non-Latino SBOs. This optimism is likely related
to the fact that 78% of Latino SBOs responded that their business
was better off today compared to a year ago, while only 62% of
non-Latino SBOs shared the same sentiment. This optimism was felt
in the larger local community as 68% said they expect their local
economies to improve over the next few months, compared to 48% of
non-Latino SBOs who expressed similar sentiments.
However, this optimism was clouded by critical business concerns
ranging from their worries about tapping into their personal
savings to finance the business (71% of Latino SBOs vs. 53% of
non-Latino SBOs) as well as worries about their ability to pay
bills/rent each month (64% of Latino SBOs vs. 49% of non-Latino
SBOs). Furthermore, year on year, these Latino businesses expressed
greater concerns about maintaining adequate staffing levels (71%
vs. 60% in 2023) and avoiding cash flow disruptions (79% vs 69% in
2023).
A desire for digital innovation and the ability to tap
into experts to help navigateRegarding digital innovation,
Latino SBOs indexed higher across numerous dimensions, including
naming technology as a top investment priority (41% vs. 30% of
non-Latino SBOs), as well as eCommerce investment (31% vs. 19% of
non-Latino SBOs). They also are more concerned about ensuring the
security of company networks and computer systems (77% vs. 59% of
non-Latino SBOs). This may be because 30% of Latino SBOs reported a
cybersecurity incident in the past year as opposed to 21% of
non-Latino SBOs.
With a clear focus on growth, Latino SBOs are looking to
leverage external support to fuel this growth. Types of support
that Latino SBOs are interested in include resources to transition
to digital-first operations (78% vs. 58% of non-Latino SBOs) and
support to transition to new systems or ways of working (82% vs.
58% of non-Latino SBOs). The full survey findings can be found
here.
Engaging with businesses to offer reliable
solutionsAs expressed in the study, small businesses of
all backgrounds desire to tap into expert advice to drive their
businesses forward and Verizon Small Business Days provides this
forum to leverage business experts. Running from April 22 through
April 28, small businesses are invited to consult with a Verizon
Business specialist. Business owners can capitalize on timely
offers and solutions designed to drive their business forward. The
promotions and services available include the following:
- A free tech check to determine the viability and longevity of
their current solutions.
- A free 5G phone for businesses that switch to Verizon with no
required trade-in; plus, up to an additional $300 off.1
- Switch to an LTE Business Internet 50 Mbps plan and get Verizon
Business Internet Security Plus on us for 12 months, with
ransomware, phishing protection, and anti-malware to help protect
your business.2
- Up to a $1,000 Visa Prepaid Card when you switch to select Fios
Business Internet plans with a 2-year term.3
Providing small businesses with digital-ready
resourcesVerizon is committed to reaching 1 million small
businesses by 2030 with digital skills training. Verizon Small
Business Digital Ready, a free online resource, was created with
and for small businesses, with a specific focus on helping diverse
and under-resourced business owners. The Digital Ready website
provides small business owners access to personalized learning
through over 40 courses, some of which are available in Spanish,
peer networking, 1:1 expert coaching, and incentives such as grant
funding.
To view the complete survey findings, visit:
https://www.verizon.com/about/2024-latino-small-business-survey.
For more information on Verizon’s Small Business Solutions,
visit
https://www.verizon.com/business/solutions/small-business/.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is one of the world’s leading providers of
technology and communications services. Headquartered in New York
City and with a presence around the world, Verizon generated
revenues of $134.0 billion in 2023. The company offers data, video
and voice services and solutions on its award-winning networks and
platforms, delivering on customers’ demand for mobility, reliable
network connectivity, security and control.
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1 Qualifying purchase: iPhone 14 128GB, iPhone 15 128GB, Google
Pixel 8 128GB, Pixel 8 Pro 128GB, Samsung Galaxy S23 128GB, Galaxy
S24 128GB or Galaxy XCover 6 Pro. Taxes & fees apply. New line
w/device payment purchase agmt & Business Unlimited Plus or
Unlimited Pro plan req’d. 0% APR. , Credit, varying by smartphone
purchase, applied to acct. over the term of your agmt (up to 36
mos); promo credit ends when eligibility requirements are no longer
met. Credits begin in 2-3 bills & will include appropriate
credit amounts from order date. Monthly smartphone fee after
credit: $0. Add’l savings available to customers that also transfer
an existing number to VZ. $300 (iPhone 14, Google Pixel 8 or
Samsung Galaxy S23) or $200 (iPhone 15, Pixel 8 Pro, Galaxy S24 or
Galaxy XCover6 Pro) credit applied to acct after 2-3 bills. Cannot
be combined with other offers. VZ reserves the right to charge back
to your acct all or a portion of the value of the $200 or $300
promo credit you received as part of this offer in the event you no
longer meet the eligibility requirements. Any such charge back may
be subject to the terms of your VZ agmt. Galaxy XCover6 Pro
supports only 5G Ultra Wideband mid-band (C-band), 5G and 4G LTE.
Offers available 4.22 through 4.28.2024.
2 New, qualifying LTE Business Internet 50 Mbps service line and
new Verizon Business Internet Security Plus plan (VBIS Plus) req’d.
New service line & VBIS Plus purchase must be completed in one
transaction; not available for prior purchases. Qualifying
customers will receive a $10/mo promo bill credit for up to 12
months; applied to account after 1-2 bills. Promo credits end when
eligibility requirements are no longer met. Starting in month 13,
monthly promo credits will end and customer will pay $10/mo for the
VBIS Plus service. May not be combined with all offers. Taxes,
fees, and terms & conditions apply. Offer available 4.22
through 4.28.24.
3 Fios Business Internet availability in select areas; not
available in all locations. Prepaid Card amount based on speed tier
purchased with $1000 reward for the 1 Gig plan. Offer not available
in all locations where Fios is sold. Additional terms apply.
Available 4.22 through 4.28.24.
Media contact:
Tessa
Giammonatessa.giammona@verizon.com Carly
Sylvester carly.sylvester@verizon.com
Verizon Communications (NYSE:VZ)
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