Partner Article

Online networks an untapped resource for SMEs looking to grow and expand

Nearly half of the small businesses in the UK are missing out on the chance to grow their firm by not taking advantage of online forums and communities.

A study Sage UK and Ireland found a large number of bosses at small to medium enterprises (SMEs) are not tapping into online resources and peer to peer support for advice which will them help grow, expand and develop.

The business software and services provider found that when a third (34%) of firms saw their turnover decrease in 2013, some businesses could not afford to seek help.

With a significant percentage of small companies expecting profits (43%) and the number of people they employ (27%) to grow in 2014; Sage said businesses will be helped on the road to prosperity through collaboration and digital peer-to-peer support networks.

The study of 500 small business owners and decision makers found the biggest first port of call currently for advice was speaking to colleagues and peers offline (26%). This was then followed by the internet (23%) and their accountant (17%).

Despite the obvious value placed on peer to peer advice, 48% said they did not use online forums or digital communities such as LinkedIn.

“There appears to be a disconnect between the value of peer-to-peer advice and the convenience of being able to go online - small businesses are really missing out as a result,” said Lee Perkins, Managing Director of Sage UK and Ireland Start-up and Small Business Division.

“This is why we created the Sage Business Community, businesses need an online portal that can help them connect, share, and learn with each other – you cannot underestimate the importance and value of sound business advice. With our vast network of customers it gives a huge pool of advice and talent, allowing people to share their knowledge and experience.

“With the economic picture looking ever brighter, businesses must have access to the best tools and resources when they need it in order to succeed.”

Sage Business Community is an online portal that allows Sage’s customers to connect with their peers to share insights and best practice. It has been created to give people in business access to advice and knowledge that gives them the confidence to succeed.

This was posted in Bdaily's Members' News section by Sage UK .