Online savvy SMEs expect growth
The March 2014 MYOB Business Monitor report reveals that the gap between SMEs who are online savvy and those who are online-cautious is widening.
In the year to February 2014, a higher proportion of online-savvy businesses reported revenue growth and expect future revenue growth than those without an online presence.
Almost half of SMEs who use cloud technology and over two fifths with a website and a social media site reported increased sales or work in their short-term pipeline. In contrast, slightly more than one quarter of SMEs without a website reported more pipeline work.
The study of 1,032 SMEs also found an increase in the use of online technologies. The proportion with a website is now 42%, up from 38% six months ago. A similar trend occurs for those using social media (39%, up from 33%), and cloud computing (33%, up from 16%).