GoDaddy, the company dedicated to empowering entrepreneurs, has released the findings from its GoDaddy 2023 Data Observatory. The survey focuses on the current state of small businesses worldwide, with a particular emphasis on India, examining how entrepreneurs and small business owners operate their businesses.
GoDaddy Data Observatory finds 62% of Indian small businesses use a website, online store, or e-commerce platform as their main sales channel to grow their business
Globally, the survey reveals that 46% of small businesses surveyed were launched within the past 1-5 years, with India accounting for 55% in the same period. Notably, 83% of Indian small businesses started selling online in the last 5 years. Indian small businesses are highly active in establishing their online presence, with actions such as building social media profiles (35%), online advertising (34%), and personal contact with potential customers (33%).
The Data Observatory underscores the significance of having an online presence, with entrepreneurs recognizing its value. Globally, 64% of small business owners reported making up to half of their annual revenue from online sales channels, and 37% revealed that 51-100% of their revenue comes from online sales. Additionally, 61% globally reported using a website or online store, or a combination of both, as their primary sales channel. In India, 65% of respondents stated that up to half of their revenue comes from online sales, while 36% of respondents generate over 50% of their revenue from online sales.
The survey highlights that e-commerce is closely followed by social media (58% globally), indicating that a strong online presence with complementary tools is crucial for businesses to thrive online. India leads in the use of online marketplaces as a potential channel, with 34% of small businesses utilizing them, surpassing other surveyed countries such as Mexico (16%), Spain (20%), and Colombia (14%).
In terms of sustaining momentum, 66% of global businesses consider raising awareness to be of utmost importance, with advertising on social media, having a business website, and employing online non-paid marketing strategies as their top choices. For 34% of small businesses in India, having a business website is a key activity to enhance brand awareness, along with online advertising (36%) and advertising on social media (46%). Notably, phone usage as a sales channel is more prevalent in India compared to many other countries, with 46% of Indians utilizing it for trade. GenX (40-54 years) are more likely than GenZ (18-24 years) to use the phone, with 64% versus 34% respectively.
Apurva Planitkar, Senior Marketing Director for GoDaddy India, emphasized the value that Indian small businesses place on leveraging online tools for enhanced growth opportunities. A robust online presence, complemented by effective tools, is essential for gaining a competitive edge in today’s evolving online marketplace. GoDaddy remains committed to empowering small businesses in India by offering a comprehensive suite of solutions and digital services, accompanied by expert customer care, enabling entrepreneurs to reach a wider audience, enhance online visibility, and drive growth.
The GoDaddy Data Observatory, conducted by Advanis in March 2023, encompassed Brazil, Colombia, Germany, India, Mexico, Philippines, Singapore, Spain, Thailand, and the United States. The survey targeted small business owners, with companies defined based on the number of employees ranging from one to 50 people. A total of 4,682 entrepreneurs and small business owners were surveyed, including 569 respondents from India.
