New research from Development Economics, and commissioned by eBay, has found the UK economy could be an estimated £8.4bn larger if the final fifth (23%) of small businesses without key digital capabilities closed the ‘digital gap’.
Small businesses in Britain without digital infrastructure including a website, social media channels or an online marketplace presence are missing out on £20.2bn in revenue each year. This equates to £20,000 in increased revenue or efficiency savings per business across all sectors.
The research was released to coincide with the start of the 2017 Do it Digital campaign, which Vizulate Digital is proudly taking part in and aims to help an additional one million UK small businesses become more digitally engaged in 2017. The 100 Days Of Digital runs from 22nd December 2016 to March 31st 2017 and champions a different digital opportunity every day, creating a UK-wide pool of resources for small businesses.
eBay UK will be the first business to make a public pledge towards reaching the one million target. Its Director of UK trading, Murray Lambell, has announced the launch of eBay for Business in the UK. This new initiative will provide tools, guidance and resources to small businesses looking to get more digital this year.
Over 200,000 small British retail businesses already trade with customers across the globe via eBay. Many began as purely bricks and mortar enterprises before taking the digital plunge.
Yet more support is needed to help small businesses embrace the opportunity that e-commerce presents. According to YouGov, a quarter (23%) of SMEs surveyed have no website, four in ten (40%) had no social media channels and nearly three quarters (72%) lack a presence on an online marketplace.
Shockingly, of those surveyed, over half (57%) without a website said they had no plans to change this in 2017, citing a lack of time and expertise as well as security concerns as barriers.
Minister of State for Digital and Culture Matt Hancock said: “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.
“It is essential we take every opportunity to create the world-leading businesses of tomorrow, so I welcome Do It Digital’s campaign and pledges from other organisations to increase digital skills in small businesses.”
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.”
Vizulate Digital is proudly taking part in the Do It Digital’s 2017 #100DaysOfDigital campaign and will be featured in the social media campaign on Sunday 5th March. However, if you want assistance or advice in making your business digital you can call us on 01484 950 200 or email us at info@vizulate.com.
In the meantime, be sure to follow Do It Digital’s social media channels below for tips and advice each day throughout #100DaysOfDigital or visit https://doitdigital.co.uk/
Twitter: https://twitter.com/DoItDigitalUK
Facebook: https://www.facebook.com/doitdigitaluk
Instagram: https://www.instagram.com/doitdigitaluk/
