BANGALORE: Small enterprises which could not have competed with bigger players due to shortage of investment and resources have new online resources like Facebook and Google, which are helping in tapping customers.
Sources in the business said the advantage of reaching millions of people online has improved both their prospects and innovation quotient.
According to a Google’s survey conducted to understand the importance of having a website, more than 57 percent of entrepreneurs have claimed that they get better leads through the internet.
Analysts believe that the Internet has helped businesses compete in not just domestic market but, also in the international markets. According to Boston Consulting Group’s survey, India’s Internet economy growth rate of 23 per cent makes it the second fastest across the G20 and ahead of many other developing nations, which are growing at an average of 17.8 per cent rate.
The report states that the Indian Internet economy has contributed `3.2 lakh crore to the overall economy in 2010, representing 4.1 per cent of gross domestic product (GDP), and is projected to rise to `10.8 lakh crore by 2016.
Monika Manchanda, a new age entrepreneur who started a customised baking unit in October last year, said, “Setting up a website is easy as the interface is easy to use and has great options.”
She said having a website helps in promote business and reach out to a lot more people and also builds credibility of their organisation.
Sonya Suri of Idesignz, an interior design company which incorporates personal touches to homes, stated that the response from customers has increased ever since the website was launched.
Meanwhile, many firms believe that they can promote their products without stepping out of their offices and also reach thousands of tech-savvy crowd via internet.