Country for PR: United Kingdom
Contributor: PR Newswire Europe
Monday, July 04 2022 - 08:35
MSMEs agree digitization helps sustain business: Crazy Domains survey for International MSME Day 2022
SYDNEY, July 4, 2022 /PRNewswire-AsiaNet/

- Key survey findings:

  - 63 percent of micro-, small, and medium-sized enterprises (MSMEs) agree 
that adopting online methods helped sustain their business in the long run.
  - In fact, 79 percent of businesses in Australia own a business website, and 
20 percent of them use their sites for customer transactions.
  - With the rising inflation per year, 76 percent of businesses agree that 
business costs have increased.
  - Despite the economic challenges, 50 percent of these eCommerce businesses 
believe selling online reduces some cost pressure. In fact, 59 percent agree it 
drives business growth.
  - 61 percent of small businesses believe Australia is a good hub for doing 

    As the pandemic slows down, Australian small businesses believe going 
digital will help them retain their operations in the future, as revealed 
through a survey for International MSME Day 2022 conducted by Crazy Domains, a 
leading hosting and online solutions provider.

    When the COVID-19 crisis shut down businesses worldwide, many Australian 
micro-, small, and medium-sized enterprises (MSMEs) thrived by embracing 
digitalization. Such as launching a website (78 percent), sending business 
emails (81 percent), being active on social media (56 percent) and leveraging 
digital marketing (36 percent).

    Businesses have become more invested in getting online, spending more than 
$2,500 a year on online solutions, such as websites, domains, web hosting, 
business email, and marketing services, among others.

    Business sentiments on digital transformation

    A digital presence has become a top priority for Australian MSMEs. Among 
those that currently do not have a website, 68 percent are willing to outsource 
website creation to professionals, while 32 percent would do it themselves.

    Among those who own a website, only 20 percent of them currently sell 
online, while 24 percent intend on selling online within the next 12 months. 
This isn't surprising, as brand promotion and a professional image remain to be 
among the top reasons for building a website, along with acquiring new 

    Meanwhile, most eCommerce businesses believe selling online plays a key 
role in growing their business. With the rising inflation, which is expected to 
hit 6 percent by end-of-year, 49 percent of small and mid-sized businesses 
(SMBs) rely on eCommerce opportunities to help reduce cost pressures.

    Most Australian businesses are still on the fence when it comes to 
contactless payment options and buy-now-pay-later (BNPL) schemes. Only 32 
percent offer online payments, while 27 percent say it's not applicable to 
their business. On the other hand, only a meager 4 percent offer a BNPL service 
to their customers.  

    Outlook amidst COVID, economic, and political challenges

    In retrospect, the COVID-19 crisis has impacted small businesses in 
different ways. On business performance, 25 percent of MSMEs believe they have 
performed better than they did 12 months ago. A slightly higher number of 28 
percent believed they experienced worse performance, while almost half of SMBs 
stated their business performed the same in the past year.

    While the country hopefully awaits the end of the pandemic, economic and 
socio-political challenges taunt businesses in its place. The rising inflation 
brought by an ongoing war in Ukraine has taken a toll on SMB budgets, with 
almost 80 percent seeing an increase in business costs.

    With Australia running under a new Federal Labor government for the first 
time in nine years, many SMBs expect to bear the brunt with an increase in 
employee wages.

    While only one-third of MSMEs feel positive about the country's economy in 
the next 12 months, there is a glimmer of hope as 61 percent of MSMEs consider 
Australia a good hub for doing business.

    Survey methodology

    The Crazy Domains MSME survey was conducted among a total of 330 
respondents, a majority of which are SMBs in the following industries: 
consulting/training, professional services, manufacturing, health and social 
services, education and retail. The survey aims to understand the current state 
of MSMEs within the past 12 months and their outlook amidst the global crisis. 

    To download a copy of the infographic, click 

    About Crazy Domains

    With over 20 years of experience, Crazy Domains is a leading online 
solutions provider in Australia, and has grown to be a globally recognized 
brand across Europe, Asia, New Zealand, UK, Middle East, and the United States.

    Crazy Domains offers SMBs tools and services that aim to ease their 
transition online, such as domains, hosting, servers, security, and online 
marketing. It is among the many reputable portfolio brands under Newfold 
Digital, a global web presence solutions provider for small to medium-sized 
businesses. To learn more, visit[]


    Source: Crazy Domains