BUSINESSES LEFT BEHIND IN DIGITAL ECONOMY

BUSINESSES LEFT BEHIND IN DIGITAL ECONOMY

ABOUT a third of small to medium businesses don’t utilise online technology and lose out to competitors, according to research from the MYOB Business Monitor Report.

It found only four out of 10 businesses have websites, which is the same figure from six months ago.

Only 12 per cent of businesses with websites use social media and 16 per cent use cloud computing and little growth in adapting accounting software.

Business division general manager James Scollay says operators are missing out on the opportunity to boost revenue and attract customers.

“Businesses that use online technologies are increasingly outperforming their less tech savvy competitors,” says Scollay.

“Our research found those using a websites and social media in business say these efforts produce more customer enquiries or leads and greater sales conversions.

“That’s why we encourage businesses of all shapes and sizes to make their business life easier by reading up about the benefits of implementing technologies such as a website and social media presence, online accounting software and so on.”

The survey shows businesses taking advantage of online technology saw a revenue rise in the 12 months to August this year.

Businesses combining a website with a social media site are 63 per cent more likely to increase sales than those who used none, with cloud users 59 per cent more likely to see an increase.

Scollay says businesses are in danger of getting left behind if they don’t take the leap into the digital age.

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