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Online tech is big business for micro-businesses, says a recent report. Being small should also mean thinking big. Putting technology to work can dramatically boost even the most bespoke of businesses, and we’re here to help.
You’re literally one in a million, if you’re one of Britain’s smallest enterprises. The Enterprise Research Centre says that there are over a million micro-businesses in the UK, defined as those employing one to nine people. The Centre says almost all of them have ambitions that are bigger than the description suggests.
Stephen Roper, head honcho at the Centre, believes micro-businesses play an important role in all of our lives. “They are our plumbers, our builders, our hairdressers, architects, designers, artisans, lawyers and accountants.”
So how do these boutique-sized businesses make a big impression in the highly-homogenised world of twenty-first century commerce? That’s easy, we say. Just like Springfords: get digital, get online, and get in the cloud.
Now, like most of the population, we don’t need to be digital whizz-kids. There may be a few in our ranks who know their way around a computer programme, but we keep them indoors, and away from flashing lights and sudden noises. Springfords has been offering cloud-based services for ages, and this new report says you should be taking more advantage of what’s out there.
It’s what Stephen Roper calls the ‘digital dividend’ for small business. In fact, the benefits are even more pronounced, the smaller the enterprise. In other words, adopt cloud based solutions, and you’ll earn more from every hour of the day. “This study provides the first evidence of the value of digital adoption to micro-business productivity in the UK,” he says. “There’s a clear ‘digital dividend’ for the productivity of our smallest firms from adopting certain technologies and these effects increase with the number used.”
The report says that despite Springfords making it so easy to get in the cloud, many businesses don’t actually take advantage of what’s available. Many are not using what’s out there at all, or are only using one service, when they could be reaping the benefits of up to five common, cloud-based, business tools.
Services like customer relationship management; e-commerce; computer aided design; and even the ubiquitous office services, could all add significant percentage points to your bottom line profitability. Cloud accounting alone adds nearly twelve percentage points to sales, says the report. You’re not alone if you approve of that, and are already doing the sums in your head.
There are plenty of other encouraging stats in the ERC report, which claims that greater adoption of five key digital technologies, including of course accounting, could boost the economy by £16.6bn.
Whether you’re a cloud-based novice or a digital devotee already, Springfords can introduce you to a bit of blue-sky thinking about the way you handle your accounting needs. We’ll help