Firms may identify as digital but a lot of useful tech is going to waste due to lack of business supports.
Half of Irish SMEs describe themselves as digital and 83% rely on social media for their marketing, according to a new Enterprise Nation survey.
When it comes to increasing efficiencies, only a third(36%) are using accounting software, half (50%) are using cloud computing and only one in five (19%) use project management software.
“Small businesses still need support to take their skills to the next level and help them use their technology more efficiently – but more than a third can’t get access to the support they need”
The data suggested that while businesses are partly embracing the digital world, a fifth (21%) say they have purchased technology they don’t have time to use.
Access to business supports lacking
Less than half (42%) said they had found business support online, while another 36 per cent said they couldn’t find access to business support that worked for them.
The analysis found just over a third of small businesses (37%) said they are expecting to reboot growth plans over the next 12 months. Only six per cent didn’t expect to grow.
It also found of those with growth plans, 36 per cent expected to grow by around a quarter, which could deliver a boost of more than €36 million to the economy.
The analysis found more than half (57%) of those surveyed in late July were looking to seek investment to fuel growth plans.
Only just over one in ten (11%) say they are currently exporting. Of those that weren’t already exporting, a quarter (25%) said they would like to, and 19 per cent of those that export said they would like to increase overseas sales.
More than half (57%) small businesses seek investment in next 12 months.
Small businesses see high staff costs (28%) as well as persistent cost pressures on consumer pockets as the biggest challenge moving forward (19%).
More than a third (37%) of Irish firms say they are still often paid late for their goods and services.
The majority (67%) warned that the current tax burden on small businesses is already too high, suggesting any tax hikes in the Budget could have a negative impact on confidence as well as profits.
The analysis also found 14 per cent of entrepreneurs are still frustrated at the lack of access to adequate space they need to run their businesses, be that business units, co working spaces or high street pop-ups.
“It’s refreshing to see that so many small businesses are embracing digital tools,” said Joanne Mangan, country head of Ireland at Enterprise Nation.
“But what is also clear is that they still need support to take their skills to the next level and help them use their technology more efficiently – but more than a third can’t get access to the support they need.
“Independent businesses play an important role in their localities, so it’s more important than ever to create clear and easy routes to help them find the support they need to grow.”
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