Technology and Security are Key Drivers of Saudi Arabian Small Business Success, reveals GoDaddy’s 2024 Global Entrepreneurship Survey
GoDaddy data shows that technology adoption and enhanced security measures are essential for small business growth and competitiveness.
As small business owners continue to adapt to digital demands, GoDaddy’s 2024 Global Entrepreneurship Survey highlights the growing importance of digital tools for small businesses and the need for stronger cybersecurity measures to help ensure long-term sustainability and competitiveness.
Technology as an Enabler of Growth
The survey results underscored the critical role that technology plays in enabling small businesses to grow and compete, with 99% of Saudi entrepreneurs reporting that digitization is a key competitive advantage.
What’s more, 97% of respondents reported digitization has significantly improved their work processes, and 98% recognized that combining online and offline sales is crucial for business success.
These statistics illustrate a widespread adoption of digital solutions to improve customer interaction and operational efficiency, as they become increasingly integrated into everyday operations. Saudi entrepreneurs reported they most frequently use digital invoicing (96%), customer service tools (96%), and email notifications (93%) to communicate with customers and operate their businesses.
Additionally, with more small business adopting digital solutions, 61% of Saudi small business owners currently use customer relationship management (CRM) systems to track and manage customer interactions, representing a significant opportunity to further enhance customer engagement being addressed.
Digital Investments for the Future
Looking ahead, small business owners are preparing to further invest in digital solutions to drive growth. In 2024, 96% of Saudi entrepreneurs said they planned to increase their investment in online sales and marketing efforts, reflecting a clear trend towards leveraging digital channels for business expansion.
“GoDaddy continues to serve as a champion of small businesses in the ever-evolving digital ecosystem, providing digital solutions and expert guides to entrepreneurs to start and grow a business, build a professional website, attract customers and sell their products or services.
With its robust suite of online tools, GoDaddy is making opportunity more inclusive for all and supporting small businesses on their digital journeys,” said Selina Bieber, Vice President for International Markets at GoDaddy.
Security: Accelerating Awareness for Small Businesses
As Saudi entrepreneurs continue to adopt digital solutions, cybersecurity has also emerged as an area of increased awareness.
The survey found that Saudi entrepreneurs recognize the importance of having online security protections in place with 92% of small business owners reported they feel they are appropriately prepared to face a cyberattack, most commonly taking preventative measures, such as installing an antivirus software (69%) and regularly backing up data (63%).
Additionally, 19% of those who have suffered a cyberattack believe it had a significant impact on their small business.
However, there are still further steps which small business owners can take to help decrease their vulnerability to a cyberattack – with 43% implementing firewalls and 35% using encryption software. These additional protections can help to further protect a business’ digital assets.
Conclusion
As small businesses embrace digitalization, GoDaddy’s survey shows that Saudi Arabian entrepreneurs are confident to adopt new digital solutions to improve customer interaction and operational efficiency. GoDaddy empowers small businesses by providing the necessary technology, resources and support needed to grow and compete in the digital landscape.
