BUSINESSES LEFT BEHIND IN DIGITAL ECONOMY

Written on the 24 October 2013

BUSINESSES LEFT BEHIND IN DIGITAL ECONOMY

ABOUT a third of small to medium businesses don’t utilise online technology and lose out to competitors, according to research from the MYOB Business Monitor Report.

It found only four out of 10 businesses have websites, which is the same figure from six months ago.

Only 12 per cent of businesses with websites use social media and 16 per cent use cloud computing and little growth in adapting accounting software.

Business division general manager James Scollay says operators are missing out on the opportunity to boost revenue and attract customers.

“Businesses that use online technologies are increasingly outperforming their less tech savvy competitors,” says Scollay.

“Our research found those using a websites and social media in business say these efforts produce more customer enquiries or leads and greater sales conversions.

“That’s why we encourage businesses of all shapes and sizes to make their business life easier by reading up about the benefits of implementing technologies such as a website and social media presence, online accounting software and so on.”

The survey shows businesses taking advantage of online technology saw a revenue rise in the 12 months to August this year.

Businesses combining a website with a social media site are 63 per cent more likely to increase sales than those who used none, with cloud users 59 per cent more likely to see an increase.

Scollay says businesses are in danger of getting left behind if they don’t take the leap into the digital age.


Latest News

PROFIT BOOST FORECAST AT VILLA WORLD

VILLA World has forecast profit growth of 5 per cent in the first half of FY17 in an earnings guidance released to th...

WP CURVE SOLD TO GODADDY

NASDAQ-listed tech company GoDaddy has bought Gold Coast's WP Curve for an undisclosed sum.

The subscription-b...

BOARD SHAKE-UP TAKES OUT SURFSTITCH FOUNDER

ONLINE actionwear retailer SurfStitch Group (ASX: SRF) has announced a major board shake-up in a move that effectivel...

ORIGIN TO DIVEST UPSTREAM OIL AND GAS BUSINESS

ORIGIN Energy will spin off its upstream oil and gas business in an as-yet unpriced IPO.

It will allow the Sydney-...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter