Partner Article

Web-savvy firms twice as confident about growth

Net-literate small businesses are twice as confident about their growth potential than businesses without an online presence, new research suggests. Despite the security fears raised by the recent House of Lords report, as reported above, web-savvy firms expect their businesses to grow by an average of 41% over the next year. Firms not using the web only expect 20% growth.

According to a poll by thebestof, a national network of local marketing websites, small firms using the web to market their business were opening up new areas of opportunity. 16% of office suppliers reported that the internet held no potential for their business, and a third did not see it as relevant. However, the poll found that some office suppliers are generating as much as 20% of their business from the internet.

Nigel Botterill, chief executive of thebestof, said: “The first wave of the internet seemed to be all about the major brands and retailers, or businesses like lastminute.com or eBay, whose whole premise is built on the internet. “What this research shows is that there’s a whole generation of ordinary small businesses – like office suppliers – who have been quietly working in the background, using the web to steal market share from their bigger competitors.”

Nearly one in five of those surveyed said they did not feel equipped to take advantage of the internet. A further 56% said an online presence was more suited to bigger business. However, Mr Botterill said this was a mindset small business owners would have to get out of if they want to compete on a level playing field.

He said: “It’s not rocket science, it’s a basic business skill and tool, just like financial management, which they can and must harness.”

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