GoDaddy highlights technology and security for small business growth

Indian small businesses are adopting digital tools and emphasizing cybersecurity as key strategies for long-term success, according to GoDaddy’s Global Entrepreneurship Survey 2024. The findings highlight the transformative role of technology and security in shaping the competitive landscape for small businesses.

Technology drives business growth

The survey highlights the indispensable role that technology plays in driving growth and competitiveness. An overwhelming 96% of Indian entrepreneurs cited digitalization as a crucial competitive advantage. Additionally, 97% acknowledged that digital adoption has significantly improved their workflows, while 93% emphasized the importance of combining online and offline sales to achieve success.

Indian entrepreneurs are leveraging digital solutions to streamline operations and improve customer interactions. Popular tools include digital payment systems (95%), email notifications (92%), and online booking platforms (91%). However, the adoption of customer relationship management (CRM) systems lags: only 69% of small businesses use these tools, presenting a significant opportunity for growth. GoDaddy’s comprehensive set of services aims to simplify and accelerate the digital transformation of these companies, reducing costs and time investments.

Future digital investments

Looking ahead to 2024, Indian entrepreneurs are doubling down on their digital investments. An astonishing 95% plan to boost online sales and marketing spending, indicating a strong commitment to leveraging digital channels for expansion.

“GoDaddy continues to serve as an advocate for small businesses in the ever-evolving digital ecosystem, providing digital solutions and expert guides to entrepreneurs to start and grow a business, create a professional website, attract customers, and sell their products or services. With its robust set of online tools, GoDaddy is making opportunities more inclusive for everyone and supporting small businesses on their digital journeys,” said Apurva Palnitkar, senior director of marketing at GoDaddy.

Security: a growing priority

As digital adoption grows, Indian entrepreneurs are increasingly prioritizing cybersecurity. The survey reveals that 91% of small business owners feel prepared to deal with cyber threats, with common practices including installing antivirus software (74%) and regularly backing up data (62%) . However, vulnerabilities remain, with only 35% implementing encryption software (SSL) and 32% using firewalls.

Among companies that suffered cyberattacks, 29% reported significant impacts. The survey emphasizes the need for additional protective measures to protect digital assets and ensure uninterrupted operations.

GoDaddy’s survey paints an optimistic picture of Indian small businesses confidently navigating the digital age. By adopting innovative technologies and strengthening cybersecurity, entrepreneurs are well positioned to thrive. GoDaddy continues to provide tools, resources and support to small businesses, ensuring their success in an increasingly digital world.

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