ISLAMABAD: Around 26 percent of operational Small and Medium Businesses (SMBs) in Pakistan using the Facebook platform reported that their sales in the past month were higher than the same month last year, while 52 percent reported their sales were lower, revealed Facebook parent company, Meta.

Meta has released its latest report on the Global State of SMBs, a survey of nearly 24,000 small and medium-sized business leaders across 30 countries and territories.

Meta has developed the Global State of Small Business Report series to monitor the health of SMBs globally, aiming to provide information that can facilitate research and policy discussions on how to support SMBs during the current period and into the future. The study was conducted in January, when many parts of the world were seeing a surge in Covid cases due to the Omicron variant.

According to the report, 77 percent of SMBs of Pakistan using the Facebook platform reported that they were operational or engaging in any revenue-generating activities. Further 26 percent of operational SMBs using the Facebook platform reported that their sales in the past month were higher than the same month last year, while 52 percent reported their sales were lower.

The data regarding Pakistan stated that 44 percent of operational SMBs using the Facebook platform reported they had reduced the size of their workforce as a result of the pandemic. Further 49 percent of operational SMBs using the Facebook platform reported making at least 25 percent of their sales digitally in the past month.

The data noted that 20 percent of operational SMBs in Pakistan using the Facebook platform expected challenges related to cash flow and 22 percent expected challenges related to a lack of demand in the next few months. Further 21 percent of operational SMBs using the Facebook platform said they were confident in their ability to continue operating for at least 12 months, if current circumstances were to continue.

The report noted that global closure rate – 20 percent of small and medium-sized businesses globally reported being currently closed. Reduce employment – 34 percent of small and medium-sized businesses globally reported that they reduced employment as a result of the pandemic. Financial assistance – 60 percent of small and medium-sized businesses globally reported that they received no financial assistance during the pandemic.

Further 75 percent of women-led SMBs globally, versus 83 percent of men-led SMBs globally, using the Facebook platform reported that they were operational or engaging in any revenue-generating activities. Around 29 percent of operational, women-led SMBs globally using the Facebook platform reported that sales in the past month were higher than the equivalent month last year, during the pandemic, and 29 percent of operational, men-led SMBs globally using the Facebook platform reported the same. Some businesses saw a decline in sales. 46 percent of operational, women-led SMBs globally using the Facebook platform reported their sales in the past month were lower than the same month the previous year, and 46 percent of operational, men-led SMBs globally using the Facebook platform reported the same.

Copyright Business Recorder, 2022