Internet Most Valuable Business Tool: US SMBs

Most of the US SMBs are turning to tablets and smart phones from desktops, laptops etc., revealed a new study conducted by Portfolio. The study found that SMBs are significantly increasing their usage and reliance on technology, especially the Internet. It is considered as a critical business tool. About 37% of SMB owners cited that they have used a smart phone or a PDA in 2010, which is an increase of 10% over 2010. About 9% reported that they have used an iPad, and 31% used apps for businesses. Desktops, network books, note books and laptop usage among SMB owners have all decreased compared to 2010.

Study has found that majority of the SMBs cited that they believe Internet as one of their most valuable business tool. About 74% have found citing the above statement, and it is an increase from 65% in 2010. And about 55% SMB owners are present online to stay connected to their business for 8 or more than 8 hours a day. About 70% of the SMB owners responded that technology has greatly increased their company’s productivity and also helping in making their lives organized. 71% said that they research products online for purchasing and it has increased from 55% whereas 58% look for business news and updates online, which has increased from 52% in 2010.

According to the study, while increasing Internet usage, 70% of SMB owners currently use social networks and 49% have social networks as part of their marketing initiatives. About 59% of the users are using Facebook for either personal or business purpose and about 31% are using Linked-In, but 91% of users are using it for their business. Only 15% are on Twitter, but it is ranked 2nd after Linked-In as a best business tool. And about 73% are using YouTube.

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