2020 Small Business Digital Maturity Study
Unlocking the Value of Digitalization in the New Normal
COVID-19 has accelerated the digitalization of businesses. The 2020 Small Business Digital Maturity Study conducted by IDC and commissioned by Cisco shows that over 70 percent of small businesses surveyed are accelerating the digitalization of their businesses as a result of COVID-19. As small businesses become more digitally mature, they could add as much as US$2.3 Trillion to GDP by 2024, accelerating economic recovery across Brazil, Canada, Chile, France, Germany, Mexico, United Kingdom and United States. Find out where small businesses are in the digital maturity stages and their outlook for the next 18 months.
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Digital Maturity of Small Businesses
Small businesses in United Kingdom, United States and Germany have made the most progress in their digitalization journeys. France and Canada follow, while Latin America small businesses hold the most opportunity for growth.
Key Highlights
$2.3 T could be added to these eight countries’ GDP by 2024 if 50% of the small businesses digitally mature
93% of small businesses said that COVID-19 has made them more reliant on technology
Over 70% of worldwide small businesses are accelerating the digitalization of their businesses
Cloud solutions, infrastructure hardware/software and security are the top three technology investments for small businesses in the next 18 months
2020 Digital Maturity Index
Digital Natives were able to grow their revenues 8x faster than the Indifferent and over 2x faster than the Observers
26%
Stage 1:
Digital Indifferent
50%
Stage 2:
Digital Observer
20%
Stage 3:
Digital Challenger
4%
Stage 4:
Digital Natives
How to Become a Digital Challenger: Seven Steps to Success
86% of small businesses "strongly agree that technology is changing the industry". At Cisco, we know that you don't have to be an expert in technology to transform your business. You just need a partner who puts you first. We've made it easier for you to manage your tech via these simple 7 steps.
Case Studies
See how other small businesses are partnering with Cisco to transform and scale their growing business
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With help from Cisco Designed, UK charity Ellen MacArthur Foundation has the right network to fulfil their mission to inspire a generation to re-think, re-design and build a positive future circular economy.
Learn how this rural hospital harnessed Cisco technology to innovate quickly, support more patients, and protect its greatest assets—the healthcare workers on the front lines.