Small And Medium Enterprises sharing ideas in digital environment: Facebook

In line with global trends, small businesses in India are increasingly turning to each other to learn and share ideas in the contemporary digital economy, a survey by social media platform Facebook has found.

"In India alone, 38 per cent of SMEs (small and medium enterprises) indicated that they rely on each other to learn. Clearly, businesses are looking to each other to master the new mobile environment," Facebook said in a statement.

The social media platform cited its on-going 'The Future of Business Survey' conducted in collaboration with the developed nations' think tank Organisation for Economic Co-operation and Development (OECD) and the World Bank.

"The results indicate that many businesses are embracing mobile technologies to connect with and find new customers, sell products or services online, locate new employees and activate mobile marketing campaigns," it added.

Such behaviour is increasingly true for SMEs, who seek tools and solutions to help them manage their businesses cost-effectively on the go, according to the renowned social media platform.

"Nearly half (41 per cent) of businesses in India that are confident about the economy are learning from other businesses, whereas over half (56 per cent) of unconfident businesses do not," the statement said.

"To help businesses succeed in today's digital economy, we need to understand the current and future economic environments in which these businesses operate. This edition of our Future of Business survey shows connections matter," said Ankhi Das, Director of Public Policy for Facebook India and South Asia.