Rhode Island

Rhode Island SMBs reported slightly larger than average revenue declines (-19% vs. -16% avg.) despite having a Driver segment (35%) in line with the national average. Rhode Island SMB owners entered the crisis with a relatively low comfort level (52%) with digital tools. Nearly all (96%) of Rhode Island SMBs increased their use of digital tools during COVID-19. More than half (55%) of Rhode Island SMBs feel optimistic about the future of their business and are now thinking more about how to grow those businesses (55%). Meanwhile, 47% of them said they were able to retain or even grow their customer base

Rhode Island Map
35%
Driver
21%
Adopter
16%
Maintainer
28%
Non-seg

Average revenue reduction

-19%   -16% avg.

% comfort with digital tools pre-COVID-19

52%   68% avg.

% plan to use tools more post-COVID-19

63%   53% avg.

Top 3 tools used pre-COVID-19

1) Social media/video platforms (92% vs. 69%)

2) Digital payments (91% vs. 67%)

3) Digital ads (89% vs. 58%)

% increased use of tools during COVID-19

96%   72% avg.

Top post-COVID-19 questions

How will I...

Recover from the damages done by COVID-19? (62% vs. 44%)

Digitally prepare for future? (59% vs. 37%)

Cover my expenses? (40% vs. 42%)

Top 3 tools interested in adopting

1) CRM platforms (19% vs. 11%)

2) Online hiring platforms (12% vs. 8%)

3) Video Conferencing (11% vs. 6%)

Top 3 learning formats of interest

1) Step-by-step video tutorials (55% vs. 56%)

2) Step-by-step written guides (51% vs. 42%)

3) Webinars or livestreams (51% vs. 47%)

Top barriers to digital tool adoption

49% avg.

73%

Information deficit

28% avg.

54%

Protecting data privacy

45% avg.

48%

Cost

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