Facebook has published its findings from its Future of Business Survey in India, and the findings are quite interesting. The survey is a collaborative project between Facebook, The Organisation for Economic Co-operation and Development (OECD) and the World Bank.
Facebook hopes that the survey will be a “source of information on small and medium-sized enterprises (SMEs).”
The findings are split into a number of sections, the first of which deals with the current state and future outlook of SMEs in India. While the overall confidence levels appear to have fallen since February last year, the future appears bright to SMEs.
These companies, which apparently employ 40 percent of India’s workforce and contribute to nearly 8 percent of India’s GDP, see great prospect for job growth in the near future as well, the survey suggests.
Other findings point to the fact that these companies see attracting customers as their biggest challenge and that at least 18 percent of these companies engage in international trade.
Information describing the SMEs surveyed suggests that the majority of these companies have only 2-4 employees, and that more than half of these companies are less than three years old. 22 percent of the companies are older than 10 years, however.
The top management of these SMEs is skewed towards the male side, however.
Speaking of the survey, Ankhi Das, Director of Public Policy for Facebook India and South Asia, said, “To help businesses succeed in today's digital economy, we need to understand the current and future economic environments in which these businesses operate. This is a time to connect more. And the more connected small businesses in India are to their own economy and to the international economy, the more success and growth they can enjoy. With the positive confidence and outlook shown in India, small businesses are clearly capitalizing on today’s digital opportunities. The more we can understand those connections and how they can fuel economic growth, the more we can help”.
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Updated Date: Jan 19, 2017 11:38:04 IST