Posted: Thu 19th Jan 2017
Entrepreneurs who run small companies but don't have a website are missing out on revenue or efficiency savings of Â£20,000, according to new research.
The report by eBay said the UK's small firms could gain a total Â£20bn if the 'digital gap' was closed. The survey found that a quarter of the SMEs responding have no website, four in 10 no social media channels and nearly three quarters don't sell through an online marketplace.
Released to coincide with the official launch of the Do It Digital campaign, which aims to help one million UK small businesses become more digitally engaged in 2017, the research also found that 57% of small firms without a website have no plans to get one in 2017. A lack of time, limited expertise and security concerns were the top barriers.
Michelle Ovens MBE, director at Do It Digital, said: "All evidence supports the belief that there are clear financial benefits for small businesses embracing digital. But we also know that many don't have the time or access to the expertise to take advantage of what's available to them.
"We want to help change that, one step at a time, by showing that digital needn't mean a leap into the unknown by giving them access to support and guidance on how to engage in a way that is best for their particular business."
Matt Hancock MP, minister for digital and culture, added: "Digital knowhow can help firms save money, increase profits and improve productivity, yet too many firms still do not use websites, trading platforms or social media channels."
One of the ways small business owners can boost their online presence is through Enterprise Nation's Go and Grow Online campaign. Supported by Do It Digital and in its third year, entrepreneurs can access content, events and special offers to run a great business via the web.