The third annual Lloyds Bank UK Business Digital Index, a survey of 2,000 small businesses and charities across the UK, has just been published, and there are some worrying statistics relating to the digital skills of UK small businesses.
38% of small businesses, it seems, lack basic digital skills and small business has a particular problem with cyber-security.
If your business is highly digitised you are much more likely to report an increase in turnover, the Index suggests, but if you are a sole trader, you are much less likely to have the basic digital skills necessary to achieve those improvements – only 50% having digital skills in such areas as management and accounting, and few are intending to invest in those areas of weakness in the coming year. This puts them at a distinct disadvantage, and for 15% it is a key barrier to doing more business online.
The report also shows that more than two-thirds of small businesses feel they need to develop their cyber skills. Cyber security is a key area for improvement for all businesses, not just small business owners.
Social media usage has increased, but is still not used by more than half of those surveyed. This is an area that many businesses use to their advantage, and many customers will expect businesses they deal with to have a social media presence.
Do you have areas of weakness in your use of digital knowledge? Do you feel you need advice from someone who is up to date with best business practice? Do get in touch with us, or apply for a mentor who can help guide you through the options to ensure you are not left behind in the digital marketplace.
For full details of the Index see the Lloyds Bank website HERE.