The Future of Business Survey is a new source of information on small and medium-sized enterprises (SMEs). Launched in February 2016, the survey - a collaboration between Facebook, the OECD, and the World Bank - provides timely information on how firms with a digital presence assess the current state and future outlook of their business, the main challenges they face and their involvement in international trade. In 2020, from May to October, the Future of Business Survey was conducted on a monthly basis to take the pulse of how SMEs are navigating the COVID-19 pandemic. The December 2020 survey will see the Future of Business Survey return to its biannual cycle.
The OECD participates in the design of the survey, which constitutes an innovative experiment of public-private partnership in data development and collection that contributes to deliver new insights on businesses in the digital economy. The survey currently covers SMEs with Facebook accounts across more than 40 developed and emerging economies.
JUST RELEASED: GLOBAL STATE OF SMALL BUSINESS REPORT - Wave VI Update (Final monthly report)
7 Dec. 2020 - This monthly survey, by Facebook, the OECD and the World Bank, is the sixth and last in a series of monthly surveys in 2020 and provides an update on the ongoing impacts of COVID-19 on small and medium-sized enterprises (SMEs).
From May through October 2020, survey results reveal that firms were hit hard at the height of the first wave of the pandemic, with SME closure rates ranging between 20–40% across all regions in May. While some SMEs have seen a gradual improvement, the pace of recovery has slowed significantly in recent months underlying a sense of fragility and the importance of ongoing financial support for SMBs.
The Wave VI October update looks at how SMEs have coped with the COVID-19 pandemic on a monthly basis since the first survey in May.