Tech-savvy small and medium businesses earn more, hire more: survey

Photo credit; Karl Baron on Flickr

Photo credit; Karl Baron on Flickr

MYOB’s latest Business Monitor Report has found that businesses with a website are more likely to increase revenue and hire full-time staff in the year ahead. It also found the number of New Zealand firms going online is rising, albeit slowly.

In its survey of about 1,000 New Zealand small and medium enterprises, the accounting software firm found 38% of businesses with a website saw revenue increase in the year to August 2013, compared to only 26% of businesses without a website.

Half of businesses with a website said they expected to see their revenue increase in the year ahead, compared to 37% of those without.

And confidence was even higher among businesses with both a website and social media site with 63% expected revenue growth in the coming year.

MYOB’s James Scollay said businesses with an online presence were also more likely to take on new workers.

While 16% of small and medium enterprises with a website were planning to increase their full-time staff this year, only 6% without one had the same intentions.

However, Scollay also said he is seeing a “digital divide” emerging in the New Zealand economy.

“Businesses with an online presence reach more people and become more engaged with their customers. They also earn more, have more work in the pipeline, and are more likely to be hiring staff,” Scollay said.

The overall proportion of SMEs with a website was still concerning – less than 50% – but Scollay said he was encouraged to see it increasing.

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