Survey claims 83% Indian small businesses started selling online in last 5 years

Mumbai, May 30 (KNN) According to a survey by GoDaddy, about 83 per cent small businesses in India started selling their products online in the past 5 years.

Indian small businesses are also most active in starting their business online with actions that include building social media profiles (35%), online advertising (34%), and personal contact with potential customers (33%), said the survey.

As per GoDaddy 2023 Data Observatory globally, 46% of small businesses surveyed reported launching in the last 1-5 years, with India recording 55% of small businesses in the same period.

It finds the importance of having an online presence is embraced by entrepreneurs.

Globally 64% of small business owners surveyed said they make up to half of their annual revenue from online sales channels, and 37% reported making 51-100% of their revenue from online sales channels.

And 61% globally reported using a website or online store or a combination as their sales channel.

In India, 65% of respondents said they make up to half of their revenue from online sales, and the other 36% of respondents make over 50% of their revenue from online sales.

The research survey found the use of e-commerce is closely followed by social media (58% globally), revealing a strong online presence with tools that complement each other is highly important for businesses to thrive online.

Additionally, India leads in using an online marketplace as a potential channel more than any other country surveyed with 34% of small businesses using it to do business in comparison with countries like Mexico (16%), Spain (20%), and Colombia (14%) amongst others.

The GoDaddy Data Observatory was conducted by Advanis in March 2023 in Brazil, Colombia, Germany, India, Mexico, Philippines, Singapore, Spain, Thailand, and the United States.

The sample criteria were small business owners, and companies were defined based on the number of employees, ranging from one to 50 people. For this study, a total of 4,682 entrepreneurs and small business owners were surveyed, including 569 from India.  (KNN Bureau)