The importance of digital technology for UK micro-businesses
One novel aspect of the Micro-business Britain survey by Enterprise Research Centre is the focus on digital adoption (www.enterpriseresearch.ac.uk).
This has increased sharply in recent years with web-based accounting software and cloud computing used by more than 40 per cent of micro-businesses. E-Commerce is used by 30 per cent of firms, with 25 and 18 per cent of companies using CAD and CRM software respectively. 9 per cent of firms use Machine Learning technologies, and only 3 per cent of micro-businesses are using AI. Almost one in four firms (25.3 per cent) use none of these digital technologies.
Adoption of these technologies is strongly linked to sales per employee. Use of cloud-based computing leads to an increase of 13.5 per sales per employee after three years or more. CRM also adds 18.4 per cent to sales per cent adds 7.5 per cent to sales per employee over three years.
If you are not sure how digital technology can help your business, have a look at our guides and case studies of Cornish businesses in our Knowledge Bank.