Small Business Survival Quiz: Are You Thriving or Struggling?

Small businesses are the backbone of many economies, but they face unique challenges and opportunities. Take our Small Business Survival Quiz to determine whether you’re thriving or struggling and learn valuable insights to help your business prosper. Plus, we’ve sprinkled in some fun facts to keep it engaging!
Question 1: How Would You Describe Your Online Presence?
a. My business has a strong online presence, and we actively engage with our customers on social media.
b. We have a basic website, but we don’t really use social media.
c. What online presence?

Fun Fact 1: The term “small business” typically refers to companies with fewer than 500 employees.

Question 2: How Has Your Revenue Trend Been in The Last Year?
a. Increasingly steadily
b. Remaining constant
c. Decreasing
Question 3: Are You Innovating and Offering New Products/Services?
a. We frequently introduce new products/services to meet customer demands.
b. We occasionally/rarely introduce new offerings, but it’s not a regular practice.
c. We haven’t introduced new products/services in a long time.
Fun Fact 3: More than 50% of small businesses in the United States are home-based, showcasing the diversity of ways entrepreneurs bring their dreams to life.
Question 4: How Engaged Are Your Employees?
a. Our team is highly engaged and motivated.
b. Employee engagement varies, and we’re working on improving it.
c. Our employees seem disengaged and demotivated.
Question 5: Are You Prepared for Unexpected Challenges?
a. We have a solid contingency plan in place for various scenarios.
b. We’ve considered some potential challenges but lack a comprehensive plan.
c. We’re not prepared at all.
Fun Fact 2: Despite the Challenges, around 80% of small businesses survive their first year.

Mostly A’s: Congratulations! Your small business is thriving. Keep up the good work and continue to stay agile and innovative.
Mostly B’s: Your business is on a decent path, but there’s room for improvement. Focus on areas that need attention and keep adapting.
Mostly C’s: It’s time to make some changes. Your business might be struggling, but with the right adjustments, you can turn things around.

Whether you’re thriving or struggling, remember that small business success is an ongoing journey. By taking this quiz, you’ve already shown a commitment to assessing and improving your business. Stay agile, adapt to change, and continue to learn!

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