W H I T E PA P E R

Impact of COVID-19 on Small Businesses

in India and the Way Ahead

APRIL 2021
EXECUTIVE SUMMARY
In the last quarter of 2020, we reached out to 250 This report provides insights on the above five
randomly selected owners of Small Businesses with questions. The outcome of this report will also help
annual revenue between INR 1 bn and INR 3 bn in understanding how Small Businesses are using
across 7 big cities in India to learn the impact of marketing and digital solutions/tools to overcome
COVID-19 on their businesses. We found that more their biggest challenges and how the government
than 82% of the businesses had a negative impact and the private service providers can help them to
and 70% of them believe that it will take them recover.
almost a year to achieve the pre-COVID-19 level
of demand. Around 60% of surveyed businesses
expect more measures and support including
government interventions. Findings from the survey
further reveal that three topmost challenges that
might impede Small Businesses to scale up their
businesses are Market Access (42%), Improving the
Overall Productivity (37%) and Having Access to
More Finance (34%).

Countries are witnessing the 2nd and 3rd wave

of the pandemic amidst battling the deepest
recession since the World War II. Small Businesses
are the worst affected across countries, sectors and
segments and India is no exception. In India, more
than 99% of businesses belong to Micro, Small and
Medium category and 94% of them are unorga-
nized. This provided the background for our survey
to understand about Small Businesses on:

1. How deeply they have been impacted by the

pandemic?

2. When will pre-COVID-19 level of demand return?

3. What challenges will they face and what are the

support measures needed for revival?

4. What is the role of digitization during the

pandemic and in the post pandemic scenario?

5. What are their future plans regarding adoption of

Next-Gen Technologies?

DUN & BRADSTREET | 2

KEY TAKEAWAYS

COVID-19 POSED UNPRECEDENTED IMPACT ON SMALL BUSINESSES

• More than 82% of surveyed Small Businesses were negatively impacted by COVID-19,
with manufacturing sector at 87% and services sector at 78%

CHALLENGES THAT SMALL BUSINESSES WILL FACE AND SUPPORT MEASURES THEY
NEED TO REVIVE
• The three top challenges that might impede them to scale up their businesses:
Market Access (42%), Improving the Overall Productivity (37%) and Having Access
to More Finance (34%)
• Three most important support measures that are needed to revive their businesses:
Better Credit Facility (59%), Better Marketing Support (48%) and
Adoption of Technology (35%)

BETTER CREDIT SCORE

• Emphasis on Credit Score is the key challenge for accessing credit as stated by 35% of the
respondents and collateral requirements cited by 32%
• Around 50% of the respondents believe that a credit score by a third party on their credit
worthiness and capabilities will benefit them

MARKET INTELLIGENCE AND MARKET ENTRY SUPPORT

• More than 40% of surveyed Small Businesses use some type of market intelligence sales
tools. Also, more than 50% of Small Businesses who do not use any market intelligence
sales tools, have plans to use it in the future
• More than 40% amongst Small Businesses who use some type of market intelligence sales
tools are cited to have taken help from third party to connect with global prospects

ROLE OF DIGITIZATION - DURING AND POST PANDEMIC

• 82% of surveyed Small Businesses digitized their daily operations during this pandemic
• Reduction in Cost (54%), Enhancing Competitiveness (51%) and Better Understanding of
Customer Behaviour (45%) are the foremost benefits derived through digitization
• Leveraging on digitization, Small Businesses will be able to address their key traditional
problems faced over the years i.e. More focus on Customer Base (62%), Data Security
(43%), Evolution of Products and Services (40%)

FUTURE PLANS OF SMALL BUSINESSES REGARDING ADOPTION OF NEXT-GEN

TECHNOLOGIES
• 66% of the respondents are planning to leverage Next Generation Technologies like
Artificial Intelligence (AI), Machine Learning (ML) and Industrial Internet of Things (IoT)
for their business operations

DUN & BRADSTREET | 3

TABLE OF CONTENTS

Chapter 1
COVID-19 posed unprecedented impact on Small Businesses 5

Chapter 2
Access to finance: challenges cited, and support needed 9

Chapter 3
Market intelligence and market entry: Important support needed by Small Businesses 12

Chapter 4
Role of digitization during and in the post pandemic scenario. Future plans of
Small Businesses regarding adoption of Next-Gen Technologies 16

Methodology 20

DUN & BRADSTREET | 4

CHAPTER 1
COVID-19 POSED UNPRECEDENTED IMPACT ON SMALL
BUSINESSES

More than 82% of the Small Businesses were negatively impacted by

COVID-19, with manufacturing sector at 87% and services sector at
78%

DUN & BRADSTREET | 3

It has been more than a year; the pandemic has still not abated. Data from The World Health Organisation
(WHO) suggests that most of the countries are witnessing the 2nd and 3rd wave of the pandemic. India is no
exception. The granular firm level data captured through the Dun & Bradstreet Commercial Disruption Tracker
(which monitors the level of disruption that businesses face owing to government restrictions or changes in
consumer behaviour and workplace practices) showed around 95% of firms were impacted in April 2020 when
the national lockdown was imposed. Even with progressive unlocking, 70% of businesses remained disrupted
till August 2020 and 40% till end of February 2021.

In India, since more than 94% of Micro, Small and Medium Enterprises operate in the unorganised sector, the
impact of COVID-19 has been severe. The Dun & Bradstreet survey on Small Businesses validates the data
and insights on the impact of COVID-19 on Small Businesses in the country.

1.1] IMPACT ON SMALL BUSINESSES DURING

PANDEMIC IMPACT OF COVID ON THE BUSINESS

Some of the key findings from Dun & Bradstreet Overall

Survey
5% 13% 82%
• More than 82% of the Small Businesses were
negatively impacted Manufacturing

• On sectoral level, manufacturing firms were

2% 11% 87%
largely impacted, around 90% compared to 78%
firms in the services sector
Services
• Out of total impacted Small Businesses, 70%
expect demand to be back within 12 months 7% 15% 78%

With the national lockdown, reverse migration of

labour, restrictions of people movement and social
Positive No Negative
distancing guidelines in place, supply chain Impact Impact Impact

continued to remain disrupted. Moreover, the

manufacturing and services activities came
to a near halt during April – May 2020, thereby
impacting their cash flows and ability to adopt
to the new normal scenario.

1.2] CHALLENGES THAT SMALL BUSINESSES • 31% of the respondents from manufacturing
FACE FOR SCALING UP DURING THE PANDEMIC industry cited issues related to compliance
ERA and around 30% of the respondents from services
industry stated unfavorable domestic
The findings on the current survey are below:
market conditions
• Around 42% of surveyed businesses cited market
access as one of the biggest challenges followed
by Improving Productivity (37%) and Access to
Credit (34%)

DUN & BRADSTREET | 6

Dun & Bradstreet's library of surveys on Small Businesses suggest that some of the challenges have remained
constant for many years. The pandemic has elevated some of those challenges and created further hurdles
in scaling up the business operations. Given the depth and length of disruption caused by the pandemic,
these challenges are likely to continue in near future. It is the strength of recovery of the Small Businesses that
would determine the pace of recovery of the commercial businesses in India and in turn the economy.
Not only do Small Businesses contribute to significant share in the India’s GDP, they also play an important
role in generating employment, especially for unskilled workers.

• More than 70% of Small Businesses did not have disaster recovery framework in place when
Covid-19 struck

• The three topmost challenges that might impede Small Businesses to scale up are
Market Access (42%), Improving the Overall Productivity (37%) and Having Access to More
Finance (34%)

• Three most important support measures that Small Businesses need to revive their
businesses are Better Credit Facility (59%), Better Marketing Support (48%) and Adoption
of Technology (35%)

TOP CHALLENGES IN SCALING UP

42% 37% 34% 29% 27%

Market Access Improving the Having Access to Compliance Issues/ Difficulties Accessing
Overall Productivity More Finance Challenges Capabilities and
Resources

INTERVENTIONS SOUGHT

59% 48% 35% 30% 27%

Better Credit Better Marketing Adoption of Access to Skilled Knowledge Sharing

Facility Support New Technologies Manpower Event Participation

SOURCE: DUN & BRADSTREET SURVEY

DUN & BRADSTREET | 7

1.3] INTERVENTIONS THAT SMALL BUSINESSES • At sectoral level, around 77% of Small Businesses
NEED TO SCALE UP THEIR OPERATION in the manufacturing sector cited the need for
It is important that Small Businesses be given credit facility against 52% in services sector
support in areas that they perceive to be most • Only 30% cited access to skilled manpower
important to scale up their business from the
depth of the crisis caused by the pandemic

• The three topmost important support measures

that Small Businesses need to revive their
business are Better Credit Facility (59%), Better
Marketing Support (48%) and Adoption of
Technology (35%)

% share of Small Businesses

Manufacturing Services
Better Credit Facility 77% 52%

Better Marketing Support 40% 51%

Adoption of New Technologies 47% 30%
Access to Skilled Manpower 33% 29%
Networking Through Different Indusrty Association 20% 23%

IMPLICATIONS FOR SMALL BUSINESSES

Inability to scale up has been one the most pressing issues of the Small Businesses community.
The pandemic has further alleviated this problem. Difficulties in accessing new markets and
financing facilities will further widen the productivity gap of Indian Small Businesses against their
counterparts in peer nations.

HOW CAN DUN & BRADSTREET HELP?

The core reasons for limited access to markets and finance is information asymmetry.
Small Businesses can boost their credibility and increase their visibility by getting their business
vetted by a neutral third party. Small Businesses whose credibility was rated by Dun & Bradstreet
have found
it easier to expand their business overseas, obtain favorable credit terms, and on average,
have doubled their net sales growth from 11% to 22% within three years of their engagement
with Dun & Bradstreet.

DUN & BRADSTREET | 8

CHAPTER 2
ACCESS TO FINANCE: CHALLENGES CITED, AND
SUPPORT NEEDED

• Banks are still the dominant mode of financing for Small Businesses,
stated by nearly 50% of respondents
• Credit Score is the key challenge for accessing credit by Small
Businesses as stated by 35% of the respondents, even higher than
collateral requirements cited by 32%
• Around 50% of the Small Businesses believe that a credit score
by a third party on their creditworthiness and capabilities will
benefit them
The Dun & Bradstreet survey captures the challenges faced by Small Businesses to meet their financing needs
from their key sources of financing. The survey outcome will help government and private sector to
understand the perspective of Small Businesses and thereby help to design the support measures accordingly.

Access to better credit facility was cited by 34% of Small Businesses as one of the major impediments to scale
up their operation while 59% stated it to be the most important support measure that they need.

2.1] SOURCES OF FINANCING BY

TOP SOURCES OF FUNDING
SMALL BUSINESSES
Other Bank Loans 47%
• Dun & Bradstreet found that around 50% of Secured Business Loans 37%

surveyed companies use other bank loans (like Through Govt Schemes 30%

Through NBFCs 23%

unsecured loan, working capital, etc.) to fund
Angel Investors 23%
their businesses. 37% use secure bank loans, Digital Lenders 11%
while a good 30% seek finances through Venture Capitalists 7%

government schemes. Interestingly, for both Others 5%

manufacturing and the services sector,

the sources of funds are almost same
TOP CHALLENGES WITH FUNDING (OVERALL)
• Notably, the survey also reveals that only 23% of Emphasis on Credit Scores (35%)
Small Businesses reach out to NBFCs for funding
Collateral Requirements (32%)
• Only 11% of Small Businesses source their
financial requirements from digital lenders, Uncertain Cash Flows (31%) Top Challenge for
Manufacturing (40%)
suggesting digital lenders/fintechs are yet to Need to Turn Financially Literate (28%)
Top Challenge for
make in-roads in the Small Businesses lending Services (32%)
Lack of Credit Info (20%)
market
SOURCE: DUN & BRADSTREET SURVEY

2.2] THE IMPORTANT CHALLENGES THAT SMALL • While for Small Businesses in the services sector,
BUSINESSES FACE TO ACCESS FINANCE emphasis on credit score was the third biggest
challenge
• 35% of Small Businesses stated ‘emphasis on
credit scores’ by lenders as their top funding • Interestingly, as against the prevailing notions,
challenge factors like Lack of Credit Information (20%) and
Cumbersome Disbursement Process (19%) are
• For Small Businesses in the manufacturing sector,
not significant impediments to access to finance
40% cited emphasis on credit scores was a key
challenge to access finance, followed by
Uncertainty in Cash Flows (35%) and Collateral
Requirements (32%)

DUN & BRADSTREET | 10

2.3] THIRD PARTY VALIDATION OF CAPABILITY
AND CREDITWORTHINESS OF SMALL Business credit score by a third party would be beneficial?

BUSINESSES

• The survey found that 50% of the respondents Yes 50% M-55% S-46%
believe that a credit score by a third party
on their creditworthiness and capabilities
SOURCE: DUN & BRADSTREET SURVEY
will help them access credit. As per the survey,
manufacturing sector (55%) expressed greater
need for third party products than the
services sector (46%)

IMPLICATIONS FOR SMALL BUSINESSES

Significant percentage of surveyed companies stated ‘emphasis on credit scores’ by lenders as

their top funding challenge and an equally large number of them believe that the credit score
by a third party will beneficial. Therefore, Small Businesses need to leverage the expertise offered
by third party private players in this space. Their tailor-made products help companies
to establish the credibility in the market, both domestic and international.

HOW CAN DUN & BRADSTREET HELP?

Dun & Bradstreet’s Credibility Reports allows clients to proactively get their company assessed
by Dun & Bradstreet. This helps them to establish legitimacy, ownership, creditworthiness,
overall standing against industry standards, and business viability. With the Credibility Reports,
companies can showcase their credibility, not only in the domestic space, but also on a global
platform.

Dun & Bradstreet, the world’s leading provider of business decisioning data and analytical
insights, offers clients an opportunity to enhance their stakeholders’ trust and confidence
in their business credentials by displaying verified and validated information through
Dun & Bradstreet’s D-U-N-S® Registered Solutions.

DUN & BRADSTREET | 11

CHAPTER 3
MARKET INTELLIGENCE AND MARKET ENTRY:
IMPORTANT SUPPORT NEEDED BY SMALL BUSINESSES

• 60% of Small Businesses do not use any market intelligence sales

tools. Out of them 50% plan to use sales intelligence tools
in the future

• 70% find access to global markets to be difficult

• Difficulty to access global markets and current focus on domestic

markets has been the primary reason for unwillingness to connect
with third parties to get an entry into the global markets

• Small Businesses who connect with third parties do so for informed

business expansion globally, to gain reputation, to increase sales
and revenue and for winning more global partners
Access to markets has been consistently cited by Small Businesses as one of the major challenges in scaling
up their operations – as per Dun & Bradstreet’s several interactions with Small Businesses during the last two
decades. This has been corroborated with the recent findings, wherein around 42% of surveyed companies
cited market access as one of the top challenges to revive during the post pandemic period. The major
obstacle in expanding market access for Small Businesses is information asymmetry. Dun & Bradstreet’s
research and data from the World Bank shows that less than 1% of MSMEs in India are engaged in direct
exports compared to 17% in Rapid Reformers (Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania,
Poland, Slovakia, and Slovenia), suggesting that Small Businesses in India have a low level of participation in
global trade. Understandably, this has emerged as a significant challenge given the financial and legal risks
involved in partnering with other businesses.

To present insights from the survey, this chapter has been divided into three sub-sections:

Use and need of marketing Ease of global and Connect with any third parties
and sales intelligence tools domestic market access to assess global markets

A. MARKETING AND SALES INTELLIGENCE

USAGE OF MARKETING
TOOL
& SALES INTELLIGENCE TOOLS
• Around 40% of surveyed companies are using
marketing/sales intelligence tools for Tools used:
prospecting Manufacturing
HubSpot, Google, Salesforce,
• Around 50% of Small Businesses, who are Lead4l l, LinledIn Sales Navigation, Al, Zoho,
currently not using marketing/sales intelligence India Mart, Youtube

tools, have cited to use in near future. From the Services

list of companies who are planning to use tools in Amexrode, Followerwonk, Google
the near future, 55% belong to the Analytics, Hubspot, India Mart,
LinkeIn Sales Navigation, Salesforce,
manufactuing sector and remaining 45% are from Trello, Zoho
the services sector

Yes 39%

No 61%

Interest in using intelligence

tool in future

49%
Most demanding digital marketing tools used
by Small Businesses are Google analytics, SEMrush,
Rebrandly, Wordpress, Kissmetrics
SOURCE: DUN & BRADSTREET SURVEY

DUN & BRADSTREET | 13

 DUN & BRADSTREET BUSINESS
GUIDANCE
A sales intelligence tool can help Small
Businesses identify and focus on the
best opportunities available to them,
provide them intelligence on their
prospective customers, the overall
market and their competition. It also
helps to align the sales and marketing
teams to accelerate their sales.

It is in this context, that D&B Hoovers

and D&B iAccess can be used by
companies to:
• Intelligently target their customers
more strategically
DUN & BRADSTREET BUSINESS
• Enable informed conversations
GUIDANCE
• Enhance sales productivity leveraging
Dun & Bradstreet recognizes that
data and analytics
scaling up has always been a challenge
With higher quality sales leads and for Small Businesses in India. The
deeper company intelligence at their pandemic has made this journey even
fingertips, Small Businesses will be more difficult. It is important for various
empowered to spend less time stakeholders, the government and
searching and more time selling. private service providers, to remove
the barriers to entry, help businesses
grow, compete and thrive through
strategic collaboration and
co-innovation. Small Businesses must
B. EASE OF MARKET ACCESS FOR DOMESTIC focus on increasing opportunities
AND GLOBAL MARKET by discovering new markets and
• More than 30% of Small Businesses find access to expanding the existing ones. D&B
global markets challenging, whereas, only DataVision’s unique proposition helps
around 13% find access to domestic markets companies to profile, visualize and
difficult segment data by leveraging more than
120M+ business records to identify the
• On sectoral fronts, interestingly, from the total
right targets for growth.
companies who find global access to be difficult,
more than 68% belong to the services sector

DUN & BRADSTREET | 14

C. CONNECT WITH THIRD PARTY TO GET
SUPPORT TO ENTER GLOBAL MARKETS CONNECT WITH THIRD PARTY TO GET
SUPPORT TO ENTER GLOBAL MARKETS
• More than 70% of surveyed Small Businesses do
not connect with third parties to get support to USING THIRD PARTY FOR MARKET ENTRY
enter global markets
M Yes 31% S Yes 23%
• Difficulty to access global markets and business
focus only on domestic market has been the
primary reason for not connecting with third
REASONS TO USE THIRD PARTY
parties to access global markets
MANUFACTURING
• On the other hand, Small Businesses who
connect with third parties for entering global • For informed business expansion globally
markets have cited various reasons, ranging from • To gain reputation
business development to helping in customer • To increase sales and revenue
acquisition to expanding businesses
SERVICE PROVIDERS

• To win more global business partners

SOURCE: DUN & BRADSTREET SURVEY

DUN & BRADSTREET BUSINESS GUIDANCE

Dun & Bradstreet recognizes that even for Small Businesses who do business in the domestic
markets or in one geography today, it is likely that they will grow across borders or engage
with stakeholders in other regions. This makes access to global data and analytics an essential
component for high performing businesses of all sizes. Connecting with third parties (business
information providers) can provide Small Businesses unrivalled access to information to take more
intelligent actions that provide a competitive edge. The key to successful globalization is to
harness technology and data to achieve the 'single customer view' needed to expand a business
while mitigating compliance risks. Business linkage data helps in staying on the right side
of corporate compliance, strengthening the understanding of a target market, and opening up
cross-selling and upselling opportunities.

Use the Dun & Bradstreet Datacloud to improve the sales and marketing ROI. Dun & Bradstreet
has the most comprehensive business records that will help Small Businesses zero in on their
prospects more effectively and efficiently. Further, Dun & Bradstreet’s proprietary suite of reports
help position small business and act as a catalyst in generating interest among existing and
potential business partners. Small Businesses can get the advantage of Dun & Bradstreet’s
outlook to establish the legitimacy, ownership, creditworthiness, overall standing against industry
standards and business viability.

DUN & BRADSTREET | 15

C H AP T E R 4
ROLE OF DIGITIZATION DURING AND IN THE POST
PANDEMIC SCENARIO. FUTURE PLANS OF SMALL
BUSINESSES REGARDING ADOPTION OF NEXT-GEN
TECHNOLOGIES
• 82% of Small Businesses digitized their daily operations during
this pandemic

• 45% of Small Businesses reduced their operational cost

by more than 20%

• Reduction in Cost (54%), Enhancing Competitiveness (51%) and

Better Understanding of Customer Behaviour (45%) are the foremost
benefits derived through digitization

• Leveraging on digitization, Small Businesses will be able to address

their key traditional problems faced over the years i.e. More Focus
on Customer Base (62%), Data Security (43%), Evolution of Products
and Services (40%)
Digitization has proved critical to ensuring continuity of essential services and to reach out to customers
and conduct businesses, during the pandemic. The pandemic has accelerated the pace of digitization by
several years across the globe. The average share of products and/or services that are partially or fully
digitized have doubled or tripled in various regions of the world.

DIGITIZED OPERATIONS DURING

PROBLEM SOLVED BY DIGITIZATION
COVID-19

57%
Yes 82% Customer Focus 58%

33%
Data Security 43%

Evolution of Products 23%

M 78% and Services 43%

Logistics and Supply 51%

S 89% 12%
Chain

Manufacturing Services

BENEFITS OF DIGITIZATION
TO THE COMPANY

Reduced Cost 45%

57%

Enhance 47%
Competitiveness 52%

Understand Customer 33%

Behavior Better 40%

Standardize & 32%

Automate Business 30%
Processes
Manufacturing Services

DIGITIZATION OF DAILY OPERATIONS DURING

THE PANDEMIC

• Around 82% of surveyed Small Businesses have

digitized their daily operations during the
pandemic. Interestingly, almost equal numbers of
companies from both services and manufacturing
sector have adopted digitization

DUN & BRADSTREET | 17

DIGITIZATION HAS HELPED SMALL BUSINESSES • Around 43% of Small Businesses from the
SOLVE THEIR TRADITIONAL ISSUES IN THE POST services sector cited that digitization would help
PANDEMIC PERIOD them to address their data security issues,
whereas for the manufacturing sector,
• Digitization is expected to not only help Small
that number was 33%
Businesses to gain various advantages but
also help them to address some of the foremost
traditional problems faced over the years
BENEFITS DERIVED BY SMALL BUSINESSES
• Surveyed companies consider that Focus on THROUGH DIGITIZATION
Customer Base (62%) and Data Security (43%) are
• While the benefits derived by Small Businesses
the top two longstanding issues that can be
from adopting digitization has been many, the
addressed through digitization followed by
top two benefits have been ‘reducing cost’ and
Evolution of Products and Services (40%),
‘enhancing competitiveness’
Logistics and Supply Chain (39%) and Technology
Decisions (36%) • Around 52% of surveyed Small Businesses have
cited reduction in cost as one of the top benefits
• Customer centricity will lead to higher customer
derived through digitization. More than 50%
satisfaction which in turn will lead to higher
of Small Businesses cited enhanced
retention thereby increasing business
competitiveness as another benefits
performance. This statement resonated with the
findings of survey. Equal number of respondents • Around 45% of Small Businesses cited better
from both the sectors, services and understanding of customer behavior as another
manufacturing, have cited digitization has benefit
helped them to focus on customers

• The research findings suggest that customer FUTURE PLANS OF SMALL BUSINESSES
experience and customer delight are prime focus REGARDING ADOPTION OF NEXT-GEN
areas for Small Businesses. Digitization is TECHNOLOGIES
expected to help them to understand customer
During mid-18th century, India played a pivotal role
requirements and align their product and
in the global economy. There were six significant
services accordingly. Around 43% of Small
economies at that time that were considered as
Businesses from the services sector consider
India’s peers: Germany, France, United States,
digitization will help them develop their products
Great Britain, Japan and China. Two among these –
and services
Great Britain and France – were ahead of India in
• The pandemic has disrupted supply chain across terms of real gross domestic product (GDP) per
countries, industries and companies. In the era capita. India slipped from third to the fourth posi-
of the “next normal”, digitizing supply chain tion globally during the Industry 1.0 and further
is of paramount importance. In the current survey, slipped to sixth position during Industry 2.0. After
more than 50% of companies in manufacturing Industry 3.0, India’s rank hit the bottom.
sector considered that digitization will be We are now at the threshold of Industry 4.0, which
able to solve their logistics and supply chain is being driven by Artificial Intelligence (AI), the
issues Internet of Things (IoT), Cloud Computing, 3D
Printing, Robotics, and other similar technologies.
This is the first industrial revolution that has been
anticipated and the first one for which mankind has
been able to plan.

DUN & BRADSTREET | 18

The pandemic has quickened the progress towards • Dun & Bradstreet’s survey found that around 70%
Industry 4.0 across many economies and India is of Small Businesses in India are willing to
one of them. Various research presented that there leverage Next-Gen Technologies like Artificial
are various reason cited by Small Businesses for Intelligence (AI), Machine Learning (ML),
adopting Industry 4.0, but businesses are gradually Industrial IoT etc. to their business operations
understanding the need and benefit
• Most preferred technologies are smart business
of adopting Industry 4.0
models for services industry and smart
manufacturing for manufacturers

DUN & BRADSTREET BUSINESS GUIDANCE

Post pandemic and in the era of next normal, digitization is going to play a critical and important
role. Digitization within the organization needs to be aligned with the business priorities to
achieve sustainable growth. In order to successfully ride the Industry 4.0, Small Businesses need
to be agile in their responses to the demanding market changes. For that they must develop an
overarching digitization strategy to remain competitive and relevant. Dun & Bradstreet
understands that growth can be achieved if data with analytics is used to create foresight into
business opportunities. In the complex business environment posed by the pandemic, using
digital and analytical tools can offer Small Businesses various advantages by helping them to
adapt to the ever-changing market, circumnavigate risk, identify growth opportunities, and
improve customer relationships.

D&B Analytics Studio built on digital platforms can help Small Businesses focus on their
customers through Acquisition, Retention and Expansion. It also helps businesses to add value to
their sales and marketing initiatives to enhance their competitiveness. D&B Master Data Solution
can help Small Businesses to focus on their customers and understand customer behaviour,
standardize and automate business process or evolve products and services.

DUN & BRADSTREET | 19

METHODOLOGY
Dun & Bradstreet’s team of analytics experts and economists have come together to provide insights.
This report is based on a survey covering responses from more than 250 Small Businesses (50% each
in manufacturing and services sectors) with annual revenue between INR 100 and INR 300 crores across major
cities in India.
The cities included are Bangalore, Delhi, Hyderabad, Chennai, Mumbai, Kolkata, Ahmedabad.
This information is supplemented by primary data from national and international sources, and secondary data
from the International multilateral organisations, to allow our team to provide a unique perspective.

DUN & BRADSTREET | 20

ABOUT DUN & BRADSTREET
Dun & Bradstreet, a leading global provider of B2B data, insights and AI-driven platforms,
helps organizations around the world grow and thrive. Dun & Bradstreet’s Data Cloud fuels solutions and
delivers insights that empower customers to grow revenue, increase margins, build stronger relationships,
and help stay compliant – even in changing times. Since 1841, companies of every size have relied
on Dun & Bradstreet to help them manage risk and reveal opportunity. Dun & Bradstreet is publicly traded
on the New York Stock Exchange (NYSE: DNB).

Disclaimer: Dun & Bradstreet makes no representations or warranties, express or implied, with respect information included
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