Indian MSMEs positive about future outlook of their businesses: Survey
About 73 per cent of small and medium-sized enterprises in India described their future outlook as positive, while 55 per cent were positive on their current outlook.
- Oct 4, 2016,
- Updated Oct 4, 2016 1:57 PM IST
About 73 per cent of small and medium-sized enterprises in India described their future outlook as positive, while 55 per cent were positive on their current outlook, says a recent survey conducted by Facebook in collaboration with the Organisation for Economic Co-operation and Development (OECD) and the World Bank.
The Future of Business, a monthly survey conducted by Facebook in 22 countries, was initiated seven months ago and over the past six months, more than 3,888 SMBs on Facebook, across India, responded to the survey via email. More than two million small and medium-sized enterprises in India are present on the social networking site in India, Facebook claims.
"The survey reflects India's entrepreneurial spirit with small businesses feeling positive about the road ahead. These small businesses are the backbone of our economy and we are committed to helping them innovate and grow," said Ankhi Das, Public Policy Director of Facebook for India, South and Central Asia.
According to other interesting findings of the survey, almost 16 per cent of SMBs in India are engaged in international trade, while top five challenges for them were attracting customers, maintaining profitability, increasing revenue, developing new products, and securing financing for expansion.
The survey also revealed that 84 per cent of India's SMEs use online tools for showing products and services, 83 per cent to provide information, 81 per cent to advise potential customers, 78 per cent to communicate with potential customers and suppliers, 69 per cent to sell products and services, and 59 per cent to manage internal business processes. On average, SMEs in India use online tools for five out of six of these purposes, the survey said.
In a seven-month time-frame, the Facebook survey has received nearly 100,000 responses from SMEs on Facebook, across 22 countries.
About 73 per cent of small and medium-sized enterprises in India described their future outlook as positive, while 55 per cent were positive on their current outlook, says a recent survey conducted by Facebook in collaboration with the Organisation for Economic Co-operation and Development (OECD) and the World Bank.
The Future of Business, a monthly survey conducted by Facebook in 22 countries, was initiated seven months ago and over the past six months, more than 3,888 SMBs on Facebook, across India, responded to the survey via email. More than two million small and medium-sized enterprises in India are present on the social networking site in India, Facebook claims.
"The survey reflects India's entrepreneurial spirit with small businesses feeling positive about the road ahead. These small businesses are the backbone of our economy and we are committed to helping them innovate and grow," said Ankhi Das, Public Policy Director of Facebook for India, South and Central Asia.
According to other interesting findings of the survey, almost 16 per cent of SMBs in India are engaged in international trade, while top five challenges for them were attracting customers, maintaining profitability, increasing revenue, developing new products, and securing financing for expansion.
The survey also revealed that 84 per cent of India's SMEs use online tools for showing products and services, 83 per cent to provide information, 81 per cent to advise potential customers, 78 per cent to communicate with potential customers and suppliers, 69 per cent to sell products and services, and 59 per cent to manage internal business processes. On average, SMEs in India use online tools for five out of six of these purposes, the survey said.
In a seven-month time-frame, the Facebook survey has received nearly 100,000 responses from SMEs on Facebook, across 22 countries.