Pandemic Global Small-Business Boom

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The global pandemic has disrupted businesses around the world in vastly different ways, but particularly small and medium-sized businesses (SMB), which make up more than 90% of the total worldwide.  Many businesses closed their doors temporarily and others for good, while some saw unprecedented growth.

What's striking has been the innovation born from this worldwide disruption, as a host of new digitally native businesses were created to meet evolving needs, new market opportunities and a global shift to remote-work environments, which has enabled the entrepreneurial to thrive.

The latest insights from Mastercard’s Recovery Insights: Small Business Reset report corroborate this development, revealing a pandemic small-business boom.