Indian SMBs bet on digital transformation to rebound from COVID impact: HP study

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Indian SMBs also recognised 4 key aspects that will help them best to bounce back — using online tools (34%), flexible work options (33%), advice on strategy (32%) and innovation at work (28 per cent), the report said.A larger number of SMBs in India expressed confidence in bouncing back after facing challenges due to the pandemic, compared to the average seen in the Asia Pacific region, helped by digital transformation, a study by HP said on Wednesday.The HP Asia SMB Report 2020 surveyed 1,600 SMBs (with less than 200 employees) in Australia, India, Indonesia, Japan, South Korea, Singapore, Thailand and Vietnam in May-June this year.Related NewsThese small and medium businesses (SMBs) represented various industries, including retail/wholesale, manufacturing, professional services, healthcare, education and financial services.Over 73 per cent of SMBs interviewed in India expressed confidence that they will survive and bounce back post-COVID-19, a number significantly higher than the regional average of 60 per cent, the report said.“This confidence is reflected in the fact that almost two-thirds (64 per cent) of respondents from India believe that this period presents a good opportunity to reformulate the business strategy. And half of the sample believe that the pandemic will ultimately bring opportunity, but in the longer term,” it added. …

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