Can your business afford not to have an online presence?
Businesses that fail to take the opportunities offered by the internet seriously could find they are losing out on revenue – or so a report from MYOB suggests.
Australia's largest accounting software provider discovered that small and medium-sized enterprises (SMEs) that embrace business websites are much more likely to see revenue improve as a result.
The March 2013 MYOB Business Monitor discovered that there is no time like the present to get involved in the online domain, as the gap between the savvy and the cautious is widening all the time.
More than 1,000 SMEs were questioned by research firm Colmar Brunton, with only 38 per cent of them revealing that they have a business website.
This is despite the fact that those with an online information source were 60 per cent more likely to see revenue rise – up from 53 per cent when the survey was last carried out in July last year.
Some companies were revealed to be more likely than others to embrace the online domain – 66 per cent small businesses with between five and 19 employees said they had a website.
This compares to just 42 per cent of metropolitan-based businesses and 50 per cent of those in the professional and property services sector.
Chief executive officer of MYOB Tim Reed explained that these findings show there is a "clear cut case" for making the most of online technologies.
He continued: "It's also clear the majority are unaware of the value in having even a simple website that contains their contact details.
"Many businesses have first-hand experience of the benefits of being found online, being able to attract and retain customers in this way."
Looking to the future, 36 per cent of businesses said they would spend more on marketing and advertising online over the coming year, which may see them address their content marketing strategy.
Posted by Emma Furze