According to the new GoDaddy research, Canadian entrepreneurs have turned to Generative AI tools to boost their business operations. Microbusiness owners are reportedly using the technology for the first time since these past months, up to 61 per cent. The findings published in GoDaddy’s annual Venture Forward report highlight how AI is enabling small businesses to level the playing field against larger competitors.
It shows that almost 40% of its users reported revenue growth over the preceding six months compared with 26% of non-users. In addition, 65% of the users of AI tools believe the technology is a competitive advantage, enabling them to do things that larger businesses can’t even if it only because of their agility and high output.
The impact of AI is particularly pronounced among younger entrepreneurs. Some 74% of Gen Z microbusiness owners have implemented AI in their business, and 81% said it had a positive impact. Gen Z entrepreneurs also are more confident when using AI compared to older entrepreneurs: 29% of Gen Zers say they are very confident, compared with 12% of Gen Xers.
While the younger generation of entrepreneurs leads the way, older generations are catching up with technology too.
Half of boomer business owners and 59% of Gen X entrepreneurs have experimented with AI, with many reporting improved results in terms of business performance.
AI adoption is also having a tangible impact on business efficiency. Entrepreneurs are using AI tools to handle time-consuming tasks such as content creation (73%), summarization (52%), and multimedia production (35%). These efficiencies are allow ing small business owners to focus on growth and reinvest more resources into their ventures.
Young Lee, Head of GoDaddy Canada, commented, “In a market traditionally dominated by larger enterprises, AI is empowering small businesses to close the gap in earnings, output, and confidence. AI tools are providing entrepreneurs with the resources they need to compete, and at GoDaddy, we’re committed to helping microbusinesses harness these opportunities through innovative solutions like Airo.”
The Venture Forward initiative, which includes data from over 770,000 Canadian microbusinesses, underscores the growing significance of small businesses to Canada’s economy and their increasing reliance on advanced technologies to thrive.
