Partner Article

UK entrepreneurs shun online social networks

Traditional breeding grounds for doing deals and making new business contacts like the pub, golf club or social club have fallen foul of the work ethic and professionalism held by today’s entrepreneurs, according to a new survey. However, despite shunning an informal, social background to do business, the internet is also failing as a networking tool.

Despite the recent growth of social networking sites such as MySpace and Facebook, which experienced 89 per cent growth last year, there seems to be a lack of good sites for businesses to network. Only 8 per cent of those surveyed by Barclays Local Business used the internet to network. 61% cited organised shows and networking events as their preferred way to build up useful contacts for their business.

John Davis, marketing director for Barclays Local Business said: “The new world of the internet is still to catch on, especially for networking, as entrepreneurs would rather go to a formal networking event rather than make contact with people online where only 9 percent do any networking. Perhaps it is down to the fact that many small businesses are sole traders and organised events allow you to meet others, and discuss issues face to face, something a chat room will never be able to do.”

According to the figures, businesswomen place more value on networking with 93% stating that it is important compared with 86% of men.

This was posted in Bdaily's Members' News section by Ruth Mitchell .