Reported on Wed, 28 Jun 2006

Small companies in the UK are not taking full advantage of IT on offer to them, according to new research though a business loan could provide the support needed to fund IT developments.

One-in-ten small businesses do not use email and a third have not used the internet as a source for information, showed the survey carried out by Lloyds TSB Business.

Stephen Pegge, head of communications for Lloyds TSB Business, said the research shows that small businesses are not exploiting IT to its full potential.

Only 35 per cent of small companies are using the internet to generate new business and find cheaper alternatives for "purchasing, production and distribution".

This is despite 50 per cent of small business owners believing that the internet has improved working life and 47 per cent admitting that using IT has helped then to cut costs.

"If small businesses fail to invest for the future, they may not meet customers' expectations and could find they are soon overtaken by more efficient and more productive competitors," warned Mr Pegge.

Small business owners wishing to improve their company may benefit from a secured business loan that would help fund IT developments.

© Adfero Ltd

Return to news index