3. Find a reliable host and service provider: Getting a head start on your digital skillset is essential, but once your business is ready to expand, small and medium-sized business (SMB) owners will have to source for a reliable provider for cloud, hosting and security services to run and grow their business. Look for a provider that has products and services you need today and ones that you might need as the business grows. You'll also want to check out their customer support and when it's available, to help you along with the way.
4. Stay close to Online-to-Offline (O2O) mobile trends: Businesses need to understand how Asia's emerging digital consumers shop in online and offline channels. There is nothing new about the fact that mobile technology plays such a big part in the lives of Singaporeans with a 91% mobile adoption rate in the nation. What is interesting is the evolving consumer behaviour of Singaporeans today - almost all of smartphone users (96%) in Singapore are increasingly going through mobile websites to gather information about purchasing products, leading 73% of them to then subsequently visit a brick and mortar store or a website. Users tend to try products and services for suitability before finally making their purchase online. Additionally, they are more likely (69%) to make purchases from companies whose mobile sites tailor information to their location. It is now more important than ever for businesses to incorporate store locators into their websites to help drive in-store foot-traffic and take advantage of Singapore's shifting consumer behaviour.
5. Embrace how new technologies have had a positive impact on your professional life: Singaporeans are welcoming new technologies due to the experience of positive impacts on their professional lives where a high majority (79%) of small business owners and future entrepreneurs in Singapore view technology as a means to create their businesses fast and reach customers. 50% of the same base also said that new technologies have given them the flexibility to balance their work and personal life. There is therefore no better time than now to leverage on the status of technology in the workplace and in the lives of your customers. We should embrace how technology enhances productivity at work, and figure out ways to have it in our own business and appeal to our customers.
As technology becomes ever more prevalent in our lives and we become increasingly more comfortable using it, it is empowering business owners to utilise the likes of the Cloud, social media and ever more advanced mobile technology to help advance their entrepreneurial ambitions. Indeed 57% of small business owners surveyed by GoDaddy expect their businesses to grow by at least 25% in the next 3-5 years. All in all, it's a good sign for those looking to start new businesses in Singapore.
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