October 07, 2019
Small Businesses: Why go digital?
Small businesses in India have a massive scope of growth. They have all the energy and potential but lack the means. Be it creating awareness about the brand, increasing visibility in the market, or reaching out to the right customer, problems are aplenty. The key lies in accepting these challenges and embracing newer business approaches. Most businesses are not even aware of the means that could lead to a multifold growth of their business. Businessmen with little or no brush with technology seem wary to invest in digital channels, which have led to a paradigm shift in marketing. This noveau medium has given a lot of range to the smaller companies without the bottomless marketing budgets to work and compete with the bigger corporates.
A lot of businesses who have adapted to this change have grown significantly in the last decade. The latest study (Source: Google-KPMG report) shows that:
- Small businesses with a web presence are able to hire up to 5 times more employees than offline SMBs. Also, increased digital adoption by the small businesses would potentially increase their contribution to the country’s GDP by 10 percentage points to 47 percent by 2020.
- Small businesses in India with a web presence grow their revenues twice as fast as those without one
- More than half of the digitally enabled businesses were able to sell to customers beyond city boundaries in comparison to just 29 percent of businesses with no web presence
If you are a small business, all it takes is a leap of faith. Your perseverance would pay off if you keep faith in the technology and, more importantly, in the expertise of professionals who are here to help you make your dreams a reality. You achieve big when you think beyond your perceived boundaries. You test the points of confinement and do the unfathomable.
For some businessmen, dreaming can inadvertently cause doubt when they stop dreaming and start thinking about all the reasons why they can’t achieve the desired results. The solution lies in reversing that with thinking about all the bases and motivation to do it. Maybe you can start with little to test the waters before jumping onto the digital bandwagon. But the results, we are sure, will surprise you positively. It might be a leap but a leap in the right direction.