A survey conducted by internet domain registrar and web hosting company GoDaddy found that 1 in 3 Filipino entrepreneurs are looking at expanding their online presence as e-commerce flourishes in the past year.
“Side Hustlers” or “Sidelines” emerged as employees either lost their jobs or have more time now that they are working from home.
Quoting the Department of Trade and Industry (DTI), GoDaddy said 73,276 online businesses were registered between March (start of Luzon-wide lockdown) and August of this year. As early as May of this year, 9,692 new business names were registered under internet retail, nearly 450% higher than the quarter before, followed by 33,000 new registrations in June.
As online selling becomes the norm, cybercriminals shifted their focus because of the wealth of important information buyers and sellers exchange online.
Over 90% of GoDaddy APAC customers participating in its 2021 Global Website Security Survey consider cyber security as important for small businesses. Nearly 80% of respondents agreed that small businesses are at risk of cyberattacks; while half said they had already experienced a security breach, and a third described themselves as unsure of how to deal with a cyberattack. Small and medium-sized businesses who responded to the global survey also acknowledge that most of their websites process personal information, which requires higher standards for website security measures.
“As a small business owner taking their business online, it is important to choose a website hosting company that provides both tools for domains, website creation, e-commerce, and content creation, as well as including online security capabilities to help safeguard your customers’ and business information,” said Norman Barrientos, director of marketing, GoDaddy, Southeast Asia.
The most common impact experienced by customers in all countries surveyed is the downtime of their website, with security vulnerabilities often leading to a larger negative customer experience. Like their APAC counterparts, a majority of Filipino business owners surveyed named possible “loss of customer trust’ and ‘exposure of customer data” due to digital security threats, as their biggest fears in conducting their businesses online.
Filipino entrepreneurs similarly worry about how to address website security threats to avoid potential financial losses. From strengthening their digital presence initially as a pandemic response, SMBs are now compelled to take a longer-term view on protecting the investment.
“When you look at establishing a strong online presence, it’s important that you look at not only how to grow, but also how to manage that growth,” Barrientos said. “Having your own website allows you to funnel leads from various channels into one for closing transactions, and also gives you control in addressing customers’ need for website protections. GoDaddy Web Security service offerings, for example, include firewall and malware protections, as well as conducting site cleanups and secure backups.”
GoDaddy advises businesses to regularly update the security options in their websites to ensure that their data and customer information are secure. The company also suggests availing themselves of backup services should a breach happen and their content is wiped out in the process.