RESEARCH TRIANGLE PARK – In discussing “key findings” about the new small business technology survey from the U.S. Chamber of Commerce study, it’s clear than an online presence is growing ever more important.

From the survey’s final report which was published Thursday:

“In a review of national trends among consumers and businesses, we discovered a few key findings:”

1. Customers are moving online to make their purchasing decisions.

According to a recent Pew Research Survey, the proportion of Americans who shop online grew from 22% in 2000 to nearly 80% in 2016.

2. Given the up-tick in online consumerism, an online presence is a critical component of a successful business plan.

In a 2017 report, Deloitte found that the most digitally advanced U.S. small businesses earned two times as much revenue per employee, experienced revenue growth that was nearly four times as high, and were almost three times as likely to have created jobs compared with the previous year.15

3. Even when customers do business with a physical store, they increasingly expect to access online options as part of their experience.

Businesses that successfully build and implement a strategy of online customer, vendor, and employee engagement will likely see the most
success in coming years.

4. Small business owners must customize technology to the needs of their businesses.

Online tools are inexpensive and easy to use, and have become routine parts of how business owners operate.

5. The growth and use of social networking by small businesses across the world continue to increase.

Of Facebook’s over two billion monthly active users, more than 1.5 billion are connected to a business on the platform, and 580 million are connected to an American business.16 The global number of social network users worldwide is projected to increase to over three billion by 2021.17

6. The size of small businesses, once an obstacle to reaching global markets, now offers benefits.

With the internet and related technologies, small businesses can be based in a range of locations even as they connect with customers around the world—all without immediate pressure to scale up their operations.

The survey also discussed the importance of technology and Facebook to N.C. firms.