Given inflationary pressures are high, in India, 69 per cent of respondents were positive about the country’s economy in the next 12 months, according to Bluehost's global survey.
Despite varying levels of confidence, SMBs across these regions say that their country is a good hub for doing business.
In the US, 62 per cent of SMBs give their country a thumbs up, along with 60 per cent in Australia, 53 per cent in New Zealand and 80 per cent of SMB respondents in India, the report said.
Across these markets, 80 per cent of the SMBs surveyed agree the rising costs of business are due to inflation.
"There is high awareness that a digital presence is a key to survival in the new normal, led by SMBs in India at 83 per cent, 67 per cent in the US and 60 per cent of SMBs in Australia and New Zealand," it mentioned.
The survey revealed that while 80 per cent of SMBs that have a domain name have a business website, selling online is yet to be embraced fully.
To make business operations more professional and customer-centric, SMBs are adopting digital tools in their daily activities with clients.
More than 80 per cent of the SMBs are currently using business email. This is followed by usage of social media at 56 per cent. In the US, usage of business email (77 per cent) and social media (71 per cent) is very high.
“SMBs are major drivers of both economic growth and social development, as they foster competition and innovation. The COVID-19 crisis has pushed SMBs to promote and grow their businesses online and now with inflationary headwinds, SMBs continue to show remarkable resilience,” said Mitika Kulshreshtha, Vice President of Marketing, Newfold Digital, the parent company of Bluehost.