A new report from GoDaddy’s Venture Forward initiative highlights how Canadian microbusinesses are harnessing the power of artificial intelligence to drive growth and stay competitive in a big-business-dominated economy. According to the report, nearly two-thirds (61%) of Canadian entrepreneurs have used Generative AI tools over the past few months, with AI adoption helping many small business owners increase revenue and reduce operational costs.
The data shows that AI users are reaping financial rewards, with 34% of AI-using entrepreneurs generating over $120,000 in annual revenue compared to just 26% of non-users. The findings underscore a trend in which AI is leveling the playing field: nearly seven in ten microbusiness owners (65%) who have adopted AI believe it has enabled them to compete more effectively with larger businesses.
Young Lee
“In an economy where success has traditionally been shaped and driven by larger businesses, AI is proving to be the great equalizer,” said Young Lee, Head of GoDaddy Canada. “By using AI tools, small businesses now hold the power to outmaneuver larger competitors. Canadian microbusinesses are closing the gap in earnings, output, and commercial confidence.”
A Cross-Generational Shift
The Venture Forward report reveals that Gen Z is leading the charge, with nearly three-quarters (74%) of Gen Z entrepreneurs having embraced AI. Notably, Gen Z business owners are also the most confident users of the technology, with almost three in ten (29%) identifying as “very confident” with AI, compared to just 12% of Gen X. Moreover, 81% of Gen Z business owners reported positive outcomes from AI adoption.
However, it’s not just the younger generation tapping into AI’s potential; older entrepreneurs are also recognizing its benefits. Half of boomer business owners have used AI tools, and 59% of Gen X entrepreneurs have noted a positive impact on their businesses as a result.
Time-Saving Benefits Fuel Business Growth
For small businesses, AI is proving to be a game-changer in managing labor-intensive tasks. Content creation is one of the top AI applications, with 73% of entrepreneurs using it to write marketing copy, social media posts, and blog content. Other common applications include summarizing information (52%) and creating multimedia content (35%). By streamlining these tasks, AI allows business owners to reinvest time and money back into their operations.
“Whether generating market insights, writing content, or simply digesting information, AI is supporting small businesses with resources they may not typically have the resources to do – and boosting their income and confidence in the process,” added Lee.
GoDaddy Launches Airo for Canadian Microbusinesses
In response to the increasing demand for AI-powered tools, GoDaddy has introduced Airo, an AI-driven platform designed specifically for microbusinesses. Airo aims to make establishing an online presence more accessible and cost-effective for small businesses, leveraging AI to simplify website building, content creation, and customer engagement.
About GoDaddy and Venture Forward
GoDaddy, a global leader in helping entrepreneurs start and grow their businesses, empowers millions of microbusiness owners worldwide. Venture Forward, its multi-year research initiative, analyzes data from over 770,000 Canadian microbusinesses to quantify their economic impact and better understand their challenges and successes.
Mario Toneguzzi
Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024.
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