The latest research suggests that there is evidence showing the positive benefits that small businesses derive from increasing use of mobile and broadband services. There are some obvious benefits to the wider UK economy if small businesses were to further increase their use of these types of services. In this post, we will look at some of those benefits and some of the barriers to increased adoption.
Staying up to date with the latest developments
As technology continues to advance at great speeds, small business may find it difficult to keep up with the latest products on the markets. However, there are some great benefits from doing so. Firstly, they will get reassurance that they have a new and reliable method of communicating with customers, suppliers and employees. Small businesses can optimise which means they get huge time and cost savings from being connected to the internet. Finally, the internet offers the ability for a complete transformation in the way that companies can expand. There are three main barriers to companies doing more online.
1. Satisfaction with the status quo
Some small businesses fail to understand how digital technology could benefit their business. This means those businesses under-invest in digital technology. If small businesses were able to adequately determine what the direct financial benefits of adopting more technology to their business would be, they would probably be far more willing to invest the time and money required for increased adoption.
2. Quality of service issues
Very few small businesses have the resources to employ an IT manager and this means they have to rely on themselves to get an understanding of a fast paced and complex technology market. Small companies unsurprisingly want to avoid making potentially expensive mistakes, so avoid engaging as fully with technology as they could.
3. Digital skills
Many small business owners and their employees simply lack technological skills. In fact, according to one survey, 42 per cent of small businesses viewed digital skills as being critical towards their future growth. Unfortunately, there is a large shortage of skills particularly amongst older employees.