Future of Business Survey 2020
Albania, Algeria, American Samoa...and 176 more, 2020
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Reference ID
WLD_2020_FBS_v01_M
Producer(s)
Facebook, The Organisation for Economic Co-operation and Development (OECD), World Bank
Collection(s)
Metadata
Created on
Dec 08, 2021
Last modified
Jun 13, 2022
Page views
5078
Downloads
330
Identification
Survey ID Number
WLD_2020_FBS_v01_M
Title
Future of Business Survey 2020
Country/Economy
| Name | Country code |
|---|---|
| Albania | ALB |
| Algeria | DZA |
| American Samoa | ASM |
| Andorra | AND |
| Angola | AGO |
| Anguilla | AIA |
| Antigua and Barbuda | ATG |
| Argentina | ARG |
| Aruba | ABW |
| Australia | AUS |
| Austria | AUT |
| Azerbaijan | AZE |
| Bahamas, The | BHS |
| Bangladesh | BGD |
| Barbados | BRB |
| Belarus | BLR |
| Belgium | BEL |
| Belize | BLZ |
| Benin | BEN |
| Bolivia | BOL |
| Netherlands | NLD |
| Bosnia and Herzegovina | BIH |
| Botswana | BWA |
| Brazil | BRA |
| Brunei Darussalam | BRN |
| Bulgaria | BGR |
| Burkina Faso | BFA |
| Burundi | BDI |
| Cabo Verde | CPV |
| Cambodia | KHM |
| Cameroon | CMR |
| Canada | CAN |
| Cayman Islands | CYM |
| Central African Republic | CAF |
| Chad | TCD |
| Chile | CHL |
| Colombia | COL |
| Congo, Rep. | COG |
| Côte d'Ivoire | CIV |
| Curaçao | CUW |
| Cyprus | CYP |
| Czech Republic | CZE |
| Denmark | DNK |
| Djibouti | DJI |
| Dominica | DMA |
| Dominican Republic | DOM |
| Ecuador | ECU |
| Egypt, Arab Rep. | EGY |
| El Salvador | SLV |
| Equatorial Guinea | GNQ |
| Estonia | EST |
| Eswatini | SWZ |
| Ethiopia | ETH |
| Faroe Islands | FRO |
| Fiji | FJI |
| Finland | FIN |
| France | FRA |
| French Polynesia | PYF |
| Gabon | GNB |
| Gambia, The | GMB |
| Germany | DEU |
| Ghana | GHA |
| Gibraltar | GIB |
| Greece | GRC |
| Grenada | GRD |
| Guadeloupe | GLP |
| Guam | GUM |
| Guatemala | GTM |
| Guernsey | GB-GSY |
| Guinea | GIN |
| Guinea-Bissau | GNB |
| Guyana | GUY |
| Haiti | HTI |
| Honduras | HND |
| Hong Kong SAR, China | HKG |
| Hungary | HUN |
| Iceland | ISL |
| India | IND |
| Indonesia | IDN |
| Iraq | IRQ |
| Ireland | IRL |
| Isle of Man | IMN |
| Israel | ISR |
| Italy | ITA |
| Jamaica | JAM |
| Japan | JPN |
| Jersey | JEY |
| Jordan | JOR |
| Kenya | KEN |
| Korea, Rep. | KOR |
| Kuwait | KWT |
| Lao PDR | LAO |
| Lebanon | LBN |
| Lesotho | LSO |
| Liberia | LBR |
| Libya | LBY |
| Liechtenstein | LIE |
| Lithuania | LTU |
| Luxembourg | LUX |
| Malawi | MWI |
| Malaysia | MYS |
| Mali | MLI |
| Malta | MLT |
| Martinique | MTQ |
| Mauritania | MRT |
| Mauritius | MUS |
| Mayotte | MYT |
| Mexico | MEX |
| Monaco | MCO |
| Montenegro | MNE |
| Morocco | MAR |
| Mozambique | MOZ |
| Myanmar | MMR |
| Namibia | NAM |
| Nepal | NPL |
| Netherlands | NLD |
| New Caledonia | NCL |
| New Zealand | NZL |
| Nicaragua | NIC |
| Niger | NER |
| Nigeria | NGA |
| North Macedonia | MKD |
| N. Mariana Isld. | MNP |
| Norway | NOR |
| Oman | OMN |
| Pakistan | PAK |
| Panama | PAN |
| Papua New Guinea | PNG |
| Paraguay | PRY |
| Peru | PER |
| Philippines | PHL |
| Poland | POL |
| Portugal | PRT |
| Qatar | QTR |
| Réunion | REU |
| Romania | ROU |
| Russian Federation | RUS |
| Rwanda | RWA |
| St. Kitts and Nevis | KNA |
| St. Lucia | LCA |
| St. Vincent and the Grenadines | VCT |
| Samoa | WSM |
| San Marino | SMR |
| São Tomé and Príncipe | STP |
| Saudi Arabia | SAU |
| Senegal | SEN |
| Serbia | SRB |
| Seychelles | SYC |
| Sierra Leone | SLE |
| Singapore | SGP |
| Sint Eustatius and Saba | NLD |
| Sint Maarten (Dutch part) | SXM |
| Slovak Republic | SVK |
| Slovenia | SVN |
| Solomon Islands | SLB |
| South Africa | ZAF |
| Spain | ESP |
| Sweden | SWE |
| Switzerland | CHE |
| Taiwan, China | TWN |
| Tanzania | TZA |
| Thailand | THA |
| Timor-Leste | TLS |
| Togo | TGO |
| Tonga | TON |
| Trinidad and Tobago | TTO |
| Tunisia | TUN |
| Turkiye | TUR |
| Turks and Caicos Islands | TCA |
| Uganda | UGA |
| United Arab Emirates | ARE |
| United Kingdom | GBR |
| United States | USA |
| Uruguay | URY |
| Vanuatu | VUT |
| Vietnam | VNM |
| Virgin Isld. (British) | VGB |
| Virgin Islands, U.S. | VIR |
| Zambia | ZMB |
Study type
Enterprise Survey [en/oth]
Series Information
The Future of Business survey is a collaboration between Facebook, the OECD and the World Bank to provide monthly data on the perceptions, challenges, and outlook of online Small and Medium Enterprises (SMEs). It was first launched in 17 countries in February 2016. Now the survey covers 101 countries and includes additional fields related to gender for example. In 2019, the Future of Business survey increased coverage to 97 countries and moved to a bi-annual cadence.
Microdata is also available to nonprofits and universities through 'Facebooks Data for Good <https://dataforgood.facebook.com/> program. To request access, please visit the Future of Business Survey <https://dataforgood.facebook.com/dfg/tools/future-of-business-survey> and fill out the data request form.
Microdata is also available to nonprofits and universities through 'Facebooks Data for Good <https://dataforgood.facebook.com/> program. To request access, please visit the Future of Business Survey <https://dataforgood.facebook.com/dfg/tools/future-of-business-survey> and fill out the data request form.
Abstract
The Future of Business Survey is a new source of information on small and medium-sized enterprises (SMEs). Launched in February 2016, the monthly survey - a partnership between Facebook, OECD, and The World Bank - provides a timely pulse on the economic environment in which businesses operate and who those businesses are to help inform decision-making at all levels and to deliver insights that can help businesses grow. The Future of Business Survey provides a perspective from newer and long-standing digitalized businesses and provides a unique window into a new mobilized economy.
Policymakers, researchers and businesses share a common interest in the environment in which SMEs operate, as well their outlook on the future, not least because young and innovative SMEs in particular are often an important source of considerable economic and employment growth. Better insights and timely information about SMEs improve our understanding of economic trends, and can provide new insights that can further stimulate and help these businesses grow.
To help provide these insights, Facebook, OECD and The World Bank have collaborated to develop a monthly survey that attempts to improve our understanding of SMEs in a timely and forward-looking manner. The three organizations share a desire to create new ways to hear from businesses and help them succeed in the emerging digitally-connected economy. The shared goal is to help policymakers, researchers, and businesses better understand business sentiment, and to leverage a digital platform to provide a unique source of information to complement existing indicators.
With more businesses leveraging online tools each day, the survey provides a lens into a new mobilized, digital economy and, in particular, insights on the actors: a relatively unmeasured community worthy of deeper consideration and considerable policy interest.
Policymakers, researchers and businesses share a common interest in the environment in which SMEs operate, as well their outlook on the future, not least because young and innovative SMEs in particular are often an important source of considerable economic and employment growth. Better insights and timely information about SMEs improve our understanding of economic trends, and can provide new insights that can further stimulate and help these businesses grow.
To help provide these insights, Facebook, OECD and The World Bank have collaborated to develop a monthly survey that attempts to improve our understanding of SMEs in a timely and forward-looking manner. The three organizations share a desire to create new ways to hear from businesses and help them succeed in the emerging digitally-connected economy. The shared goal is to help policymakers, researchers, and businesses better understand business sentiment, and to leverage a digital platform to provide a unique source of information to complement existing indicators.
With more businesses leveraging online tools each day, the survey provides a lens into a new mobilized, digital economy and, in particular, insights on the actors: a relatively unmeasured community worthy of deeper consideration and considerable policy interest.
Kind of Data
Sample survey data [ssd]
Unit of Analysis
The study describes small and medium-sized enterprises.
Scope
Notes
The survey includes questions about:
- Perceptions of current and future economic activity
- Challenges
- Business characteristics
- Strategy
- Perceptions of current and future economic activity
- Challenges
- Business characteristics
- Strategy
Coverage
Geographic Coverage
When the survey was initially launched in February 2016, it included 22 countries. When the survey was initially launched in February 2016, it included 22 countries. The Future of Business Survey is now conducted in over 90 countries in every region of the world.
Countries included in at least one wave:
Albania Algeria American Samoa Andorra Angola Anguilla Antigua and Barbuda Argentina Aruba Australia Austria Azerbaijan Bahamas (the) Bangladesh Barbados Belarus Belgium Belize Benin Bolivia (Plurinational State of) Bonaire, Sint Eustatius and Saba Bosnia and Herzegovina Botswana Brazil Brunei Darussalam Bulgaria Burkina Faso Burundi Cabo Verde Cambodia Cameroon Canada Cayman Islands (the) Central African Republic (the) Chad Chile Colombia Congo (the) Curaçao Cyprus Czechia Côte d'Ivoire Denmark Djibouti Dominica Dominican Republic (the) Ecuador Egypt El Salvador Equatorial Guinea Estonia Eswatini Ethiopia Faroe Islands (the) Fiji Finland France French Polynesia Gabon Gambia (the) Germany Ghana Gibraltar Greece Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kenya Korea (the Republic of) Kuwait Lao People's Democratic Republic (the) Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Malawi Malaysia Mali Malta Martinique Mauritania Mauritius Mayotte Mexico Monaco Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands (the) New Caledonia New Zealand Nicaragua Niger (the) Nigeria North Macedonia Northern Mariana Islands (the) Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines (the) Poland Portugal Qatar Romania Russian Federation (the) Rwanda Réunion Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten (Dutch part) Slovakia Slovenia Solomon Islands South Africa Spain Sweden Switzerland Taiwan Tanzania, the United Republic of Thailand Timor-Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turks and Caicos Islands (the) Uganda United Arab Emirates (the) United Kingdom of Great Britain and Northern Ireland (the) United States of America (the) Uruguay Vanuatu Viet Nam Virgin Islands (British) Virgin Islands (U.S.) Zambia.
Countries included in at least one wave:
Albania Algeria American Samoa Andorra Angola Anguilla Antigua and Barbuda Argentina Aruba Australia Austria Azerbaijan Bahamas (the) Bangladesh Barbados Belarus Belgium Belize Benin Bolivia (Plurinational State of) Bonaire, Sint Eustatius and Saba Bosnia and Herzegovina Botswana Brazil Brunei Darussalam Bulgaria Burkina Faso Burundi Cabo Verde Cambodia Cameroon Canada Cayman Islands (the) Central African Republic (the) Chad Chile Colombia Congo (the) Curaçao Cyprus Czechia Côte d'Ivoire Denmark Djibouti Dominica Dominican Republic (the) Ecuador Egypt El Salvador Equatorial Guinea Estonia Eswatini Ethiopia Faroe Islands (the) Fiji Finland France French Polynesia Gabon Gambia (the) Germany Ghana Gibraltar Greece Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kenya Korea (the Republic of) Kuwait Lao People's Democratic Republic (the) Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Malawi Malaysia Mali Malta Martinique Mauritania Mauritius Mayotte Mexico Monaco Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands (the) New Caledonia New Zealand Nicaragua Niger (the) Nigeria North Macedonia Northern Mariana Islands (the) Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines (the) Poland Portugal Qatar Romania Russian Federation (the) Rwanda Réunion Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten (Dutch part) Slovakia Slovenia Solomon Islands South Africa Spain Sweden Switzerland Taiwan Tanzania, the United Republic of Thailand Timor-Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turks and Caicos Islands (the) Uganda United Arab Emirates (the) United Kingdom of Great Britain and Northern Ireland (the) United States of America (the) Uruguay Vanuatu Viet Nam Virgin Islands (British) Virgin Islands (U.S.) Zambia.
Universe
The target population consists of SMEs that have an active Facebook business Page and include both newer and longer-standing businesses, spanning across a variety of sectors. With more businesses leveraging online tools each day, the survey provides a lens into a new mobilized, digital economy and, in particular, insights on the actors: a relatively unmeasured community worthy of deeper consideration and considerable policy interest.
Producers and sponsors
Primary investigators
| Name |
|---|
| The Organisation for Economic Co-operation and Development (OECD) |
| World Bank |
Funding Agency/Sponsor
| Name |
|---|
| World Bank |
| OECD |
Sampling
Sampling Procedure
Twice a year in over 97 countries, the Facebook Survey Team sends the Future of Business to admins and owners of Facebook-designated small business pages. When we share data from this survey, we anonymize responses to all survey questions and only share country-level data publicly. To achieve better representation of the broader small business population, we also weight our results based on known characteristics of the Facebook Page admin population.
A random sample of firms, representing the target population in each country, is selected to respond to the Future of Business Survey each month.
A random sample of firms, representing the target population in each country, is selected to respond to the Future of Business Survey each month.
Response Rate
Response rates to online surveys vary widely depending on a number of factors including survey length, region, strength of the relationship with invitees, incentive mechanisms, invite copy, interest of respondents in the topic and survey design.
Note: Response rates are calculated as the number of respondents who completed the survey divided by the total number of SMEs invited.
Note: Response rates are calculated as the number of respondents who completed the survey divided by the total number of SMEs invited.
Data Collection
Dates of Data Collection
| Start | End |
|---|---|
| 2020-05 | 2020-10 |
Data Collection Mode
Internet [int]
Data Collection Notes
The questionnaire was pretested by the target audience, as well as experts from the area of research interest. Additionally, steps were taken to translate the survey in order to reduce sensitivities to cultural response bias:
- Respondents were given the option to respond to the survey in any of fifteen languages native to the countries in which it was conducted.
- Translations were done only by native speakers, with two rounds of additional online checks in the context of the survey environment.
- Translators were provided with context material for this survey (e.g., the Facebook for Business website) in order to understand the context of the survey. They were also instructed to take the English survey at least two times before starting with the translations.
- Translations were discussed in a group in order to ensure a common understanding of questions and items.
- The tone (formal vs. informal) of the survey was based on cultural conventions, e.g., Facebook usually uses an informal tone, while in cultures such as the Japanese this is very uncommon and thus a formal tone was used there.
- Respondents were given the option to respond to the survey in any of fifteen languages native to the countries in which it was conducted.
- Translations were done only by native speakers, with two rounds of additional online checks in the context of the survey environment.
- Translators were provided with context material for this survey (e.g., the Facebook for Business website) in order to understand the context of the survey. They were also instructed to take the English survey at least two times before starting with the translations.
- Translations were discussed in a group in order to ensure a common understanding of questions and items.
- The tone (formal vs. informal) of the survey was based on cultural conventions, e.g., Facebook usually uses an informal tone, while in cultures such as the Japanese this is very uncommon and thus a formal tone was used there.
Questionnaires
Questionnaires
The survey includes questions about perceptions of current and future economic activity, challenges, business characteristics and strategy. Custom modules include questions related to regulation, access to finance, digital payments, and digital skills. The full questionnaire is available for download.
Data Appraisal
Estimates of Sampling Error
Any survey data is prone to several forms of error and biases that need to be considered to understand how closely the results reflect the intended population. In particular, the following components of the total survey error are noteworthy:
Sampling error is a natural characteristic of every survey based on samples and reflects the uncertainty in any survey result that is attributable to the fact that not the whole population is surveyed.
Other factors beyond sampling error that contribute to such potential differences are frame or coverage error (sampling frame of page owners does not include all relevant businesses but also may include individuals that don't represent businesses), and nonresponse error.
Note that the sample is meant to reflect the population of businesses on Facebook, not the population of small businesses in general. This group of digitized SMEs is itself a community worthy of deeper consideration and of considerable policy interest. However, care should be taken when extrapolating to the population of SMEs in general. Moreover, future work should evaluate the external validity of the sample. Particularly, respondents should be compared to the broader population of SMEs on Facebook, and the economy as a whole.
Sampling error is a natural characteristic of every survey based on samples and reflects the uncertainty in any survey result that is attributable to the fact that not the whole population is surveyed.
Other factors beyond sampling error that contribute to such potential differences are frame or coverage error (sampling frame of page owners does not include all relevant businesses but also may include individuals that don't represent businesses), and nonresponse error.
Note that the sample is meant to reflect the population of businesses on Facebook, not the population of small businesses in general. This group of digitized SMEs is itself a community worthy of deeper consideration and of considerable policy interest. However, care should be taken when extrapolating to the population of SMEs in general. Moreover, future work should evaluate the external validity of the sample. Particularly, respondents should be compared to the broader population of SMEs on Facebook, and the economy as a whole.
Access policy
Citation requirements
Use of the dataset must be acknowledged using a citation which would include:
- the Identification of the Primary Investigator
- the title of the survey (including country, acronym and year of implementation)
- the survey reference number
- the source and date of download
Example: Facebook, OECD and World Bank. Future of Business Survey 2020. Ref: WLD_2020_FBS_v01_M. Downloaded from [url] on [date].
- the Identification of the Primary Investigator
- the title of the survey (including country, acronym and year of implementation)
- the survey reference number
- the source and date of download
Example: Facebook, OECD and World Bank. Future of Business Survey 2020. Ref: WLD_2020_FBS_v01_M. Downloaded from [url] on [date].
Disclaimer and copyrights
Disclaimer
The user of the data acknowledges that the original collector of the data, the authorized distributor of the data, and the relevant funding agency bear no responsibility for use of the data or for interpretations or inferences based upon such uses.
Metadata production
DDI Document ID
DDI_WLD_2020_FBS_v01_M_WB
Producers
| Name | Abbreviation | Affiliation | Role |
|---|---|---|---|
| Development Economics Data Group | DECDG | The World Bank | Documentation of the DDI |
Date of Metadata Production
2021-12-06
DDI Document version
Version 01 (Dec 2021).