U.S. Markets open in 4 hrs 18 mins

U.S. Entrepreneurs in the Cross Currents: GoDaddy Global Study Looks at How Everyday Entrepreneurs are Adapting to Technological and Societal Disruption

Being an Entrepreneur Viewed as Protection for Challenges Automation, Artificial Intelligence and Robots Pose to the Future of Jobs

As Technology Reduces Barriers to Entry, Small Businesses and Entrepreneurs Balance Website and Social Media for Online Success

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.

(PRNewsfoto/GoDaddy Inc.)

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.

 

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/us-entrepreneurs-in-the-cross-currents-godaddy-global-study-looks-at-how-everyday-entrepreneurs-are-adapting-to-technological-and-societal-disruption-300893806.html