(Image via Thryv Holdings Inc.)
Small business activity in Q1 2022 surged 38% over Q1 2021, according to the latest report released from a global software and marketing services company serving small-to medium-sized businesses (SMBs), franchises, and agencies.
Via the Thryv Small Business Index released this week from
Thryv Holdings Inc. (NASDAQ: THRY, Forum), overall activity is measured based on actual small business data recorded within the Thryv small business platform in three key categories and all were up double digits during the measurement period.
This index tracks the actual activity and performance of roughly 9,500 SMBs from a diverse background of business categories who have used its cloud-based small business platform for at least one year.
The Index found that activity surged in all three measured categories -- payments (22% increase year over year), appointments (86%), and invoices (14%).
The report noted that since appointments are considered a leading indicator of demand and future revenue, the almost doubling of appointments suggests business results in the near term should remain robust.
The company’s Chief Executive Officer, Joe Walsh explained in
a news release upon the distribution of this report that tens of thousands of small business clients run their businesses on this platform and so their level of activity, as measured on the platform, correlates to the vibrancy of their businesses.
“They made a decision to modernize their businesses and, as a result, many were better able to handle the challenges of the past few years. The data from the first quarter of 2022 tells a remarkable story of resilience by American small businesses even in the face of the unprecedented headwinds of inflation, supply chain disruptions, a global pandemic and labor shortages.”
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