4 out of 10 SMEs view social media as the key technology growth sector
A survey of SMEs conducted by the UK’s leading entrepreneurial community, Entrepreneur Country, shows that 4 out of 10 small business owners believes that the influence of social networking and in particular ‘new media’ are key technology growth areas over the next 5 years.
ith the popularity of social networking sites such as Facebook and Twitter, SMEs believe that not only will these mediums continue to influence consumer choice and marketing spend but that new disruptive social networking and communication platforms are likely to dominate over the next 5 years.
The debate on social media and its effectiveness in driving traffic to SME sites was highlighted in a recent report from Experian which revealed that, the top 10 fastest growing SMEs have on average seen their share of visitor traffic grow by 180 per cent this year. Amongst social media traffic drivers, to these top growing online sites unsurprisingly Facebook lead the way, followed by YouTube but Twitter - the UK's third biggest social network currently only delivered 0.39% of the traffic.
With an estimated 4.5 million private sector businesses in the UK accounting for 58.8% of private sector employment and 48.8% of private sector turnover, expanding the use of technology amongst SMEs remains a critical objective for entrepreneurs groups.
The survey result comes ahead of the Profit With Technology workshop being hosted by Entrepreneur Country and legal firm Nabarro. The ½ day workshop in central London on the 26th October 2011 is bringing together innovative SMEs and global thought leaders such as Microsoft and IBM for an event aimed at giving start-ups and growth businesses practical information and tools for using technology to accelerate their business growth.
With technology revolutionising the way our businesses are run and how they generate income, service like cloud computing services, virtual working and social media are redefining how we develop products and services, engage with customers, increase our ability to work dynamic and flexibly and help us to control our bottom-line.
The workshop is the perfect way for SMEs looking to expand their online presence and efficiency to network with other small businesses and hear from and ask questions of some of the most influential businesses in their sectors.