Emerging Small Business Mindsets - The Evolving Values of Small Business Owners
In March 2021, we launched a new insights report: Emerging Small Business Mindsets.
The report spoke to the new considerations industry, and government should be making when looking to build genuine connections with small business owners.
Enterprising individuals all across Australia are redefining what it means to own a small business in 2021.
These progressive entrepreneurs believe that an opportunity exists to utilise their resilience, ingenuity and a strong sense of purpose to usher in a new way of delivering services and products to their communities. One that values impact and people as much - if not more - than the bottom line.
At Prime Motive, we believe it’s the right of communities and individuals to pursue a prosperous, just, and happy existence.
We believe that the systems and frameworks developed by governments and institutions should serve this pursuit, in an equitable, fair and supportive way.
Small businesses exemplify our beliefs. Not only as they look to enrich the lives of those directly involved but also as they champion progressive cultural change in our communities.
Themes preview – what the insights suggest
Experimental and emergent strategies
The way many small businesses naturally conduct strategy is tactical, often emergent, iterative and intuitive. In turbulent change fluxes, emergent strategies allow businesses to handle complexity and move with divergent paths.
Driven to adapt with flair in times of forced change
On the edge of the chaos during turbulent times of change, innovative ideas often emerge from within constraints.
Shaping value through employee culture
Small Business owners are building a unique impact on employees, bringing a human touch through a strong theme of care where employees' wellbeing is front of mind in decision making.
Embodying rich purpose
There is a new breed of young, ambitious business owners who are purpose-led, enterprising and driven by a strong vision to create change for the benefit of people and the planet.
Highly connected networks and communities
There is a unique relationship between small business owners built on trust and support. Other small business owners are unseen partners and allies that provide momentum to validate ideas and push new initiatives forward.
About this report
This report focuses on the emerging values of small businesses across communities, purpose and adaptation. It highlights the shifting landscape of small businesses and how their behaviours and strategies are changing. In it, we consider the collective power of small businesses to design change in Australia through their networks, employee base and influence in local communities.
Extensive digital ethnography was conducted, including; 15 in-depth interviews, a review of 50+ past interviews conducted by Prime Motive’s research team with small business owners, social media data mining, a scan of the current industry, and academic and government literature. Over 8,000 data points were synthesised into key themes that outline the landscape of small businesses in Australia and reflect how times of forced change are experienced.
What’s included in the report?
Themes and Insights
Over-aching themes that showcase the ways small business is shifting. Insights support each theme, diving deeper into the small business psyche to understand what it means to run business in the modern world.
Quotes and Stories
Quotes and case studies directly from our primary research to highlight important sentiments and build a deep understanding of what matters to small businesses.
Facts & Figures
National quantitative data and survey results highlight the impact of small businesses, acknowledging the power they hold in Australia.
Considerations to takeaway
Key summary insights, outlining the core findings of our research. Designed to guide interactions with small businesses not only in times of flux, and contribute to positive, productive partnerships well into the future.
This report is for organisations and agencies seeking to adopt a progressive approach to servicing the changing needs of small businesses in Australia.”
Get access to the report
The full report was made available for public download in March 2021, however, if you would like a copy - contact us at [email protected].
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