GoDaddy Survey Highlights Small Business Digital Trends

As small business owners continue to adapt to digital demands, GoDaddy’s 2024 Global Entrepreneurship Survey highlights the growing importance of digital tools for small businesses and the need for stronger cybersecurity measures to help ensure long-term sustainability and competitiveness.

Technology as an Enabler of Growth

The survey results underscored the critical role that technology plays in enabling small businesses to grow and compete, with 96% of Indian entrepreneurs reporting that digitization is a key competitive advantage.

What’s more, 97% of respondents reported digitization has significantly improved their work processes, and 93% recognized that combining online and offline sales is crucial for business success.

These statistics illustrate a widespread adoption of digital solutions to improve customer interaction and operational efficiency, as they become increasingly integrated into everyday operations. Indian entrepreneurs reported they most frequently use digital payment systems (95%), email notifications (92%), and online booking tools (91%) to communicate with customers and operate their businesses.

However, despite more small business adopting digital solutions, 69% of Indian small business owners currently use customer relationship management (CRM) systems to track and manage customer interactions, presenting an opportunity to further enhance customer engagement. GoDaddy is ready to support small businesses in this area by offering a wide range of services that help to reduce the cost and time associated with digital transformation.

Digital Investments for the Future

Looking ahead, small business owners are preparing to further invest in digital solutions to drive growth. In 2024, 95% of Indian entrepreneurs said they planned to increase their investment in online sales and marketing efforts, reflecting a clear trend towards leveraging digital channels for business expansion.

“GoDaddy continues to serve as a champion of small businesses in the ever-evolving digital ecosystem, providing digital solutions and expert guides to entrepreneurs to start and grow a business, build a professional website, attract customers and sell their products or services. With its robust suite of online tools, GoDaddy is making opportunity more inclusive for all and supporting small businesses on their digital journeys,” said Apurva Palnitkar, Senior Director Marketing at GoDaddy. 

Security: Accelerating Awareness for Small Businesses

As Indian entrepreneurs continue to adopt digital solutions, cybersecurity has also emerged as an area of increased awareness. The survey found that Indian entrepreneurs recognize the importance of having online security protections in place with 91% of small business owners reporting they feel they are appropriately prepared to face a cyberattack, most commonly taking preventative measures such as installing an antivirus software (74%) and regularly backing up data (62%). Additionally, 29% of those who have suffered a cyberattack believe it had a significant impact on their small business.

However, there are still further steps which small business owners can take to help decrease their vulnerability to a cyberattack – with only 35% implementing encryption software (SSLs) and 32% using firewalls. These additional protections can help to further protect a business’ digital assets.