63% feel positive about the outlook for 2023; 79% feel positive about the next three years
DigitalOcean Holdings, Inc., the cloud for developers, startups and small-to-medium sized businesses (SMBs), today announced the findings of its bi-annual Currents report.
While economic growth is forecasted to continue to slow in the coming years, 31% of SMB respondents say the economy has had no impact on their business, while 15% say it has impacted them positively.
“In these uncertain economic conditions, it’s assumed that smaller organizations will need to cut their IT spend to survive, but they’re actually turning to tech to make their operations as efficient as possible”
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“In these uncertain economic conditions, it’s assumed that smaller organizations will need to cut their IT spend to survive, but they’re actually turning to tech to make their operations as efficient as possible,” said Yancey Spruill, CEO of DigitalOcean. “SMBs and startups are continuing to invest in the technology that will help them weather the current economic climate. We expect to see the migration to cloud continue to accelerate due to the simplicity and low cost that it offers.”
Additional key findings of the Currents report include:
- Reliance on the cloud is increasing. With 61% of respondents saying their spend on cloud computing infrastructure has increased.
- Cost savings is the top motivator for SMBs migrating to the cloud. With a 57% increase in their reliance on cloud solutions, cost savings is the biggest motivator for those who have migrated and those who haven’t migrated.
- SMBs are still preparing for upcoming business challenges. Going into 2023, SMB and startup owners say economic uncertainty and meeting revenue targets are their top two areas of focus with ensuring technology solutions meet the needs of customers rounding out their top three priorities.
- Future-proofing their business is a priority. 84% of companies believe that investing in technology will help them prepare their businesses for the future, including investments in automation/self-service, cloud computing and managed services.
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