DigitalOcean investigated the impact of economic downturns on innovation and how individuals are turning to side jobs and starting new businesses amid continuing turmoil in the technology industry in the May 2023 edition of its research report ‘Currents’. It found that:
- Many employees are becoming solopreneurs by creating small businesses outside of their primary employment due to layoffs and market stagnation.
- Small businesses are weathering the economy, and most continue to feel positive about their growth despite making changes due to the current economic conditions.
- Cost and security are significant considerations for businesses when choosing a cloud infrastructure provider, especially for small businesses trying to control costs during an economic downturn.
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