Indian SMBs more inclined to build website than global businesses: GoDaddy survey
GoDaddy's Global Entrepreneurship Survey revealed 46 percent of Indian SMBs expected to grow at least 50 percent in the next three to five years, which is 1.7 times more than global counterparts (27 percent).
Internet domain registrar and web hosting company GoDaddy recently released a Global Entrepreneurship Survey revealing that Indian small businesses that are already online are more inclined to build a website for their business than their global counterparts.
Almost one-third (32 percent) of the total Indian small businesses surveyed (that are online) reported they already have a website and about 19 percent said they plan to build a website soon. Compared to them, 16 percent of global businesses said they plan to do the same.
The survey also explored the challenges faced by Indian SMBs, which require them to adapt, in order to flourish.
“Owing to the massive growth of digital economy in India, entrepreneurs and small business owners are showing increased optimism towards creating an online identity that can prove critical for their long-term growth and expansion," said Nikhil Arora, Vice President and Managing Director, GoDaddy India.
"As these business owners embark on their journey towards digital transformation, we at GoDaddy aim to provide them with the guidance and easy-to-use and affordable online tools and solutions to help them grow and prosper," he added.
In the survey, 42 percent of the Indian small businesses surveyed cited their inability to invest sufficiently in the business as a major growth challenge. Other external challenges included societal turbulence (35 percent) and failure to keep up with the technological advancements (23 percent).
Twenty-one percent of Indian entrepreneurs also reported concerns with cyber-attacks, but only eight percent of them said they experienced a cyber-attack.
Despite these challenges, 46 percent of them reported they expect to grow at least 50 percent in the next three to five years, which is 1.7 times more when compared to global counterparts (only 27 percent).
The survey was conducted by research firm Savanta in April and May 2019 and surveyed 4,505 small business owners across 10 countries, including India, Australia, Canada, the US, and more.
The sample size in India was 500 small businesses which employed 25 or less workers.
In June 2019, GoDaddy launched its Online Starter Bundle, an all-in-one internet solution for small business owners and entrepreneurs in India.
In a statement, GoDaddy said that in order to make the internet more accessible, and support the Micro, Small, and Medium Enterprises (MSMEs) entrepreneurs across India, Online Starter Bundle offers an India-specific domain name, a starter one-page website, along with a secure professional email account, enabling people to easily bring their ventures online.
