GoDaddy Inc. (NYSE: GDDY), the company that empowers everyday entrepreneurs worldwide, shares that according to GoDaddy research 1 in 3 Pinoy entrepreneurs are looking to expand their online presence.
The availability and accessibility of digital tools has led to the growth of Small and Medium Businesses and have enabled Filipinos with full-time jobs to conduct online businesses on the side. This has led to the rise of ‘Side Hustlers’ or ‘Sidelines’ which are often undertaken by those who are retired or stay-at-home parents, becoming the country’s dominant SMB segment.
According to the Department of Trade and Industry (DTI), 73,276 online businesses were registered between March (start of Luzon-wide lockdown) and August of this year. As early as May of this year, 9,692 new business names were registered under internet retail, nearly 450% higher than the quarter before, followed by 33,000 new registrations in June.
The increase in activity within the Philippine online population, whether as sellers or buyers, highlights the importance of security protections for an online business. In fact, over 90% of GoDaddy APAC customers participating in its 2021 Global Website Security Survey consider cyber security as important for small businesses. Nearly 80% of respondents agreed that small businesses are at risk of cyberattacks; while half said they had already experienced a security breach; and a third described themselves as unsure of how to deal with a cyberattack.
Small and medium-sized businesses who responded to the global survey also acknowledge that most of their websites process personal information, which require higher standards for website security measures.
“As a small business owner taking their business online, it is important to choose a website hosting company that provides both tools for domains, website creation, ecommerce and content creation, as well as including online security capabilities to help safeguard your customers’ and business information” said Norman Barrientos, GoDaddy’s Director of Marketing for Southeast Asia.
The most common impact experienced by customers in all countries surveyed is downtime of their website, with security vulnerabilities often leading to a larger negative customer experience. Like their APAC counterparts, a majority of Filipino business owners surveyed named possible ‘loss of customer trust’ and ‘exposure of customer data’ due to digital security threats, as their biggest fears in conducting their businesses online.
Pinoy entrepreneurs similarly worry on how to address website security threats to avoid potential financial losses. From strengthening their digital presence initially as a pandemic response, SMBs are now compelled to take a longer-term view on protecting the investment.
“When you look at establishing a strong online presence, it’s important that you look at not only how to grow, but also how to manage that growth. Having your own website allows you to funnel leads from various channels into one for closing transactions, and also gives you control in addressing customers’ need for website protections. GoDaddy Web Security service offerings, for example, include firewall and malware protections, as well as conducting site cleanups and secure backups,” Barrientos added.
