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Abstract: According to the report, in the first quarter of 2024, the average turnover of small and micro operators increased by 20.6% year-on-year, the average net profit margin increased to 5.4%, and the average cash flow maintenance time increased to 2.8 months.
Despite the increase in turnover, weak market demand remains the biggest challenge for micro and small operators. More than half of the small and micro operators said that the lack of market demand is their biggest pain point. The existence of this problem makes small and micro operators more cautious when expanding their scale and increasing their employees.
The issue of cost has always been a concern for small and micro operators. Cost pressures such as rents, raw materials, workers, and utility fees continue to rise, which undoubtedly increases the burden on small and micro operators. In particular, the rise in the cost of raw materials has made it even worse for the small and micro processing manufacturing industry in the upstream of the industrial chain.
Financing is another major problem for small and micro operators. Although the demand for financing has declined slightly, traditional bank operating loans have become the largest financing channel for small and micro operators. The reduction of financing costs has injected new vitality into the small and micro economy. However, the balance between the availability of financing and the ability to repay loans is still a problem that small and micro operators need to face.
Digital transformation has opened up new business paths for small and micro operators. According to the report, although the proportion of small and micro operators with online sales has declined, platforms such as Taobao and WeChat are still important positions for the digital transformation of small and micro operators. The rise of emerging platforms such as Douyin has also provided new marketing channels for small and micro operators.
Excerpts from the report are set out below
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