GoDaddy’s Small Business Survey

GoDaddy’s Small Business Survey

- 74% of small businesses in the Kingdom are optimistic about their business sector growing in 2023

- Nearly half of small businesses intend to grow substantially in 2023

Jeddah, KSA – GoDaddy, the company that helps entrepreneurs thrive, announced the results of its MENA Small Business Survey showing most small businesses are optimistic about growth in their business sector in 2023. The report also stated that nearly half of respondents intend to grow their small business substantially in 2023 by expansion into new international markets (18%) and developing employee skills (18%).

The top three business sectors perceived to have the most potential growth in 2023 in the region are food and beverage (27%), information and communication technology (23%) and eCommerce solutions (21%). The main industries the Kingdom seen to have the most potential are food and beverage (22%), information and communication technology (20%), restaurant and cafe (20%).

In the MENA region, two-thirds of businesses surveyed reported they acquire up to 30% of their customers through online channels. Furthermore, in Saudi Arabia, over 50% of small businesses responded that they use over 20% of their revenue through e-commerce. The top digital tools used in the Kingdom were reported to be social media channels such