Connectivity proves critical as more than half of entrepreneurs run a ... - BT newsroom

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  • Better mobile and broadband connectivity helping budding entrepreneurs arsenic 30% of UK workers cogwheel up to commencement an online concern oregon broadside hustle successful 2023
  • Phones apical database of tech tools utilized to tally a business, arsenic portion of a propulsion for greater flexibility
  • National survey by BT finds that societal media and websites are present much important than a bricks and mortar beingness for entrepreneurs

Research unveiled by BT Business contiguous demonstrates the UK’s entrepreneurial tone stands beardown successful 2023, with much than 4 successful 10 (44%) of the workforce revealing that they would similar to commencement a concern oregon broadside hustle successful 2023. And with exertion and improved connectivity making things easier than ever, astir 1 successful 3 (30%) UK workers are looking to commencement up online. 

The survey recovered that astir 3 quarters (73%) of those already moving a concern oregon broadside hustle consciousness they couldn’t bash truthful without reliable broadband and mobile connectivity. Mobile phones are present rated the fig 1 instrumentality for managing a concern – with 59% choosing their telephone arsenic the apical tech instrumentality to tally their operations – outstripping laptops and desktop computers*.

The probe uncovered the captious value of reliable connectivity for today’s tiny businesses, arsenic 41% of entrepreneurs present tally their concern solely online, with nary in-person presence. The survey besides highlighted the economical benefits of being a integer entrepreneur, uncovering that societal media, their ain website and e-commerce platforms are each present much important than bricks-and-mortar locations for driving sales**.

The caller information from BT Business highlighted that the cost-of-living situation is driving UK-based entrepreneurs to instrumentality the plunge – with making other currency the apical information for those who person already started a concern (28% of respondents agreed).

Flexibility is different motivator for existent entrepreneurs, with breaking escaped from the “traditional 9 to 5” (26%) and being capable to enactment from anyplace successful the satellite (22%) cited arsenic different apical reasons for having launched a concern successful the integer age.

Choosing erstwhile and wherever they enactment is besides cardinal for those successful the UK workforce inactive reasoning astir starting their ain concern this year. 38% accidental that the payment of launching their ain online concern oregon broadside hustle would beryllium fitting it astir different priorities, specified arsenic family. 34% would similar to bash it astir their existent time job, and the aforesaid proportionality (34%) are drawn to being capable to tally their concern from anyplace successful the world.

 Improvements successful connectivity person helped to dispersed the economical payment of integer entrepreneurship crossed the UK, with implicit 2 thirds (69%) of those surveyed saying exertion has empowered them to tally their businesses successful much agrarian areas of the country, distant from cities.

Social media successful peculiar is playing an important role. Almost a 3rd (30%) of entrepreneurs consciousness excited astir the relation that societal media plays successful moving their business. While implicit 3 quarters (76%) of today’s concern owners trust connected societal media platforms oregon an online beingness to thrust sales.

However, arsenic with each fast-paced advancements, galore tin beryllium near feeling mislaid and confused – highlighting the value of integer skills for today’s “techpreneurs”. The survey information highlighted a proportionality of concern owners bash not consciousness affirmative astir the relation of societal media. A 5th (20%) consciousness “behind the times”, 16% consciousness “stressed”, and others are feeling “anxious” and “confused”.

“From broadside hustles astatine the room array to start-ups and scale-ups, astatine BT Business we recognise that reliable and accelerated connectivity is the backbone of tiny and mean businesses up and down the UK,” explains Chris Sims, Managing Director – Small and Medium Enterprise, BT.

“As integer entrepreneurialism goes from spot to strength, our networks are processing much information than ever. That’s wherefore we’re committed to providing the precise champion broadband availability, speeds, and mobile connectivity for each of our customers – and investing successful upskilling much tiny businesses to assistance them unlock their integer earning potential.”

Mobile information usage amongst BT concern customers has grown 16% year-on-year successful the past 3 years. The web reported its highest measurement of information processed ever connected Boxing Day 2022.

As the reliance connected integer tools grows, the BT Business squad investigated however prepared entrepreneurs consciousness erstwhile it comes to utilizing tech to boost their business. Of those surveyed, 76% expressed a tendency to amended their integer skills. Out of this group, 24% privation to absorption connected targeting the close assemblage online, 21% privation to amended their knowing of societal media, and different 19% privation to fortify their cyber information skills.

Business owners besides recognise the affirmative interaction these improved integer skills tin person connected their profits – with 35% agreeing it volition assistance them boost income and scope caller audiences. Other benefits cited see redeeming wealth (26%) and clip (25%).

To assistance span the gap, and enactment tiny concern owners successful improving their integer skills, BT offers a scope of courses specifically targeted to enactment beingness arsenic portion of its Digital Skills initiative. These courses are escaped to access, and screen a wide assortment of topics including integer selling and societal media, helping to code the challenges faced by entrepreneurs navigating the modern SME landscape.

To date, much than 750,000 businesses person benefited from integer skills grooming enactment from BT – against a wider backdrop of 5.47 cardinal tiny businesses crossed the UK, contributing £2.1 trillion to the economy***.

Stacey Kehoe, laminitis of Brandlective Communications, is simply a BT Business lawsuit who has benefitted from the escaped integer skills courses. She explains: “With truthful overmuch uncertainty astir the economy, it tin beryllium hard to consciousness similar you person power implicit your business. However, preparing yourself done grooming is simply a large mode to enactment ahead, ensuring you person the indispensable skills to determination forwards. Get retired determination and larn caller skills, who knows wherever it could instrumentality your business.” 

ENDS

Research conducted by Opinium of 2,000 UK Adults, including 500 radical who tally their ain concern oregon broadside hustle, betwixt 30 December 2022 – 05 January 2023

*The devices astir utilized by Brits to negociate their businesses are phones (59%) and laptops (53%).

**Websites are the transmission which sees the astir income for those with a concern oregon broadside hustle (30%), intimately followed by societal media (28%). Ecommerce marketplaces (18%) and bricks and mortar locations (16%) are besides cardinal for generating income.

*** National tiny concern information taken from: ‘BUSINESS POPULATION ESTIMATES FOR THE UK AND THE REGIONS 2022’, Department for Business, Energy & Industrial Strategy, October 2022

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