Is Your Small Business Embracing Technology? (Hint: It Should)

Small business is increasingly going electronic. But is the switch from brick-and-mortar locations to e-commerce cause for concern?

According to a recent Gallup poll, 15 percent of small business owners say it’s helping their business, while 16 percent say it’s hurting their business. That leaves a wide moat of 68 percent that say it hasn’t affected them at all.

So … what’s the deal? Is technology a demon sent to cast all small business owners into the void, or is it our saving grace, assuming we can leverage it correctly? 

We have the scoop.

It’s a Wishy-Washy World

According to the poll, 60 percent of small businesses are doing “at least a small percentage” of online business — so clearly, much of this world is at least trying to make the transition. However, few feel they’re having success; only 20 percent of respondents feel they’re actually “competing” against e-commerce giants.

Half of the small businesses surveyed can see the potential of cutting-edge tech, calling it an “overall plus.” Only six percent have given it two thumbs down. But again, some (43 percent) don’t have a strong opinion either way. That means close to half of surveyed small business owners still see technology as a “maybe.” 

It’s time to integrate that crowd (and really, the “no” contingent, too) into the “yes” crowd.

Technology: The Wave of the Future, But a Painful One

E-commerce isn’t going anywhere. As of 2017, 51 percent of consumers said they preferred online shopping, and e-commerce sales are growing 23 percent year-over-year.

Clearly, that means it’s  time to make it easy for your customers to purchase goods and/or services online. But for primarily brick-and-mortar businesses, this can be difficult. 

Consider this: 36 percent of small business owners admitted that upgrading their technology to keep up with the changing times was apt to cause “at least some” financial strain. 

For a brick-and-mortar business with a few employees, the switch to a “gig” economy — hiring people to do a job on an as-needed basis, then sending them off — is the hardest thing to do, with a full quarter of small business owners identifying that as a negative, versus only 19 percent rating it positive. This just goes to show how much small business owners love and appreciate their employees, and how difficult it is to allow technology to take over.

Automating tasks — and thus allowing the owner of a small business to get by with fewer employees — was a mixed bag, too. Twenty-two percent of respondents marked it as a positive, and 18 percent dissented.

Still, it’s not enough to stare at the difficulties and just give up. The future is technology, and technology is the future — that’s what consumers are saying with their wallets, anyway. So invest in it now, and you’ll take your small business to the next level! 

Cutting-Edge Technology Puts You on the Cusp of Greatness!

Whether you see technology as an angel or a demon, the facts remain — more small business owners than not are prepared to embrace it to further their businesses. 

Are you ready to join them? Mischa Communications can show you how best to use technology to your advantage! Call or click today for specific solutions to your unique situation.