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Incfile Survey: For 45% of Small Business Owners, the Biggest Barrier to Digital Adoption Isn't Cost

Small Business Owners & Technology Survey DIY to Digital: Business Owners Grow on Their Own Terms A recent survey of our small business owners provided insights into how they utilize digital technology, and here are a few findings: Small Business Owners 1 Know What They Need to Launch Their Business, but Some DIY 60% 40% launched their waited a little business after longer – they DIY filing Articles operated on their of Formation. own before forming a legal entity. Most Small Business Owners Handle Digital Business Operations on Their Own DIY their business's SEO 52% and blogging initiatives. handle social media 63% management on their own. take care of all their email 56% marketing campaigns. automate digital business 73% processes themselves. haven't focused on digital 25-35% operations yet. Small Business Owners Use (or Plan to Use) a Variety of Digital Tools say their primary reason for adopting these tools was to “improve business." 57% say they wanted to grow both sales and marketing. 26% want to be able to better 17% communicate with customers. Most business owners aren't sure, or are still analyzing the data, to see if these tools have made an impact. Top Tools Used by Small Businesses O GODaddy asana shopify Zoom WIX * buffer DocuSign incfile quickbooks. |Adobe Ai Illustrator Google My Business Canva Hootsuite mailchimp * While many small businesses don't use any tool at all, they are figuring out which tools their business actually needs. When It Comes to Technological Decisions, "Owners" Call the Shots 62% say no one knows their business better, so they handle digital decision-making. More than 21% look for advice from friends or the internet. Close to 13% outsource experts or have a tech team member on staff. Around 4% say they're too overwhelmed to make tech decisions. Technological Adoption Doesn't Always Come Easy 46% 37% 6% say a steep learning curve is the biggest hurdle are concerned with the cost of purchasing, maintaining and updating software show concerns about security Business development and operations prove to be the most difficult areas to improve through digital technology. Sales and marketing also pose a significant challenge to business owners. COVID Has Impacted the Technological Adoption 7 to an Extent A combined 40% say Nearly 30% said nothing changed as they saw some influence on digital adoption and investment throughout a direct result of it. the pandemic. Most Small Business Owners Are Ready for a More Fool-Proof Digital Future 45% say they're ready. 28% say they're working on it. would like to be ready, 15% but they don't know where to begin. 11% say they aren't at all ready. When It Comes to Technological Innovation, Not All Business Owners Know What It Means to Their Business say innovation means 56% adopting new tools. 17% aren't sure what it means. say they find innovation in adopting social media platforms. 13% think it would be offering 9% purchase in an app or via an online store. are of the opinion that innovation would mean 6% gadgets: iPads/Kindle/ Square for credit card purchases. 10 For Their Regular Dose of Information, Small Business Owners Rely on Other Entrepreneurs 25% go to other entrepreneurs (friends and family) 24% follow entrepreneur groups & networks 23% search on Google 15% explore social media 3% listen to podcasts incfile The survey was conducted by Incfile and the data is based on close to a thousand responses.

Incfile Survey: For 45% of Small Business Owners, the Biggest Barrier to Digital Adoption Isn't Cost

shared by kevin39 on Jul 05
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Among small business owners, the second most popular answer to questions of digital adoption was, “Haven’t focused on this yet.” We know that SEO and content marketing like blogging is critical ...

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