A business report commissioned by Google Australia has revealed what we already knew; small business embracing digital and developing an online presence are far more likely to succeed.
Deloitte Access Economics was commissioned by Google Australia to gain an insight into use of the web by Australian small to medium sized businesses, which employ more than seven million people and are responsible for half the economic activity in the private sector.
The report found small business with high levels of digital engagement were twice as likely to grow, pull in double the revenue per employee and even four times more likely to be hiring new staff compared to their non-digital competitors.
It’s surprising then that the same report showed more than 35% of Australian businesses used almost no internet at all.
Ric Simes, Partner at Deloitte Access Economics said businesses making full use of the internet enjoy much better business outcomes and a 20 per cent increase in annual revenue.
“These small businesses also have better growth prospects, more diversified sources of revenue and a larger customer base,” Mr Simes said.
The survey of 500 small businesses discovered only 16 per cent had high digital engagement, with more than a third using virtually no internet at all.
Google Australia Director Jason Pellegrino said there’s still a long way to go for Australian small to medium businesses to recognise the real value of the web.
“It’s now more important than ever for small business to be online and be found. The potential upside for productivity and our economy is huge,” Mr Pellegrino said.
If you’re a local Gold Coast business who needs a website or if you feel that your site could be doing more for your business give us a call or contact us and we’ll help you with a strategy to succeed online.