SCOTTSDALE, Ariz., July 31, 2019 /PRNewswire/ -- U.S. entrepreneurs
face a swirl of technology and political disruption that is both
assisting their ability to prosper and grow, yet also requiring
them to adapt in new ways in these cross currents, according to the
GoDaddy Global Entrepreneurship Survey announced today.
From the future of jobs to cyber threats to political and
societal turbulence, entrepreneurs are being impacted by a myriad
of external challenges as they try to grow, according to the global
survey. Even with these disruptions and uncertainties entrepreneurs
remain optimistic, with 70 percent of U.S. respondents reporting
that they expect their businesses to grow at least 25 percent in
the next three to five years.
While some warn that around 38% of U.S. jobs are at a
potential high risk of automation by the 2030s, entrepreneurs
surveyed believe they are insulated from the impacts of disruptive
technologies.
Seventy-five percent of small business owners feel protected
against job loss from robots, automation and artificial
intelligence. Females (76 percent) were slightly more likely to
believe than men (71 percent) that their businesses would weather
these types of technological disruption.
Political and societal turbulence is another concern that
entrepreneurs cite as a potential challenge to their success. But
that concern is substantially lower in the United States. Only 17 percent of U.S.
entrepreneurs surveyed say societal and political turbulence poses
a threat to the success of their business – as compared to 33
percent of entrepreneurs in all the other regions surveyed.
"Globally, we are currently in an intense period of
technological, political and societal change and transformation,"
said Melissa Schneider, VP Global
Marketing Operations GoDaddy. "Small business owners and
entrepreneurs are constantly adapting to change, both in their own
venture and in the outside world, with limited help. That's why
GoDaddy is so committed to supporting them on their ever-changing
journey, with the guidance and tools to help make them successful
online."
The GoDaddy Global Entrepreneurship Survey was conducted by
research firm Savanta in April and May
2019. The research surveyed 4,505 small business owners in
Australia, Canada, Germany, Hong
Kong, India, Mexico, South
Africa, Turkey, the
United Kingdom and the United States. The survey size in
the United States was 500 small
business owners with 25 or fewer workers.
While technology disruption can pose challenges, it also can
help to reduce the barrier to entry for entrepreneurs to create a
new venture. Small businesses in the
United States are among the most likely to report having
their own website (44 percent). Twenty-nine percent said they
rely on social media or online marketplaces such as Amazon, eBay,
Facebook or Etsy. Millennials were twice as likely to rely on
social media than their baby boomer counterparts.
For those small businesses who already have a website, surveyed
owners are optimistic about the impact of technology on their
success. Seventy-nine percent of those with a website expect to
grow at least 25 percent in the next three to five years, compared
to 64 percent of U.S. small businesses that don't have a website.
Small businesses with a website are also bigger: median revenues
were $50,000 for a venture with a
website, as compared to $34,000 for those without one. While only five
percent of small businesses surveyed globally experienced a
cyberattack, 29 percent lost access to their accounts, 26 percent
had to shut down their business temporarily and 24 percent said it
cost them money to get it fixed, supporting the concept that while
it may not happen often, making security a priority is important
because when it does happen it can be quite disruptive to the
business.
When it comes to handling their technology issues, gender makes
a difference – with women much more likely to do it themselves. The
survey found that U.S. female entrepreneurs handle their own tech
needs as compared to their male counterparts (80 percent to 63
percent). Females are also more likely:
- To value flexibility compared to men (65 percent to 54
percent).
- Work in a home office (46 percent to 35 percent).
- To feel they are showing others in their community that having
a small business is possible (40 percent to 28 percent).
About GoDaddy
GoDaddy is empowering everyday entrepreneurs around the
world by providing all of the help and tools to succeed online.
With nearly 19 million customers worldwide, GoDaddy is the
place people come to name their idea, build a professional website,
attract customers and manage their work. Our mission is to give our
customers the tools, insights and the people to transform their
ideas and personal initiative into success. To learn more about the
company visit www.GoDaddy.com.
© 2019 GoDaddy Inc. All Rights Reserved.
Source: GoDaddy, Inc.
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