This report provides updated insights on the use and benefits of digital tools in Australia’s SMB sector – a sector which generates significant economic activity. SMBs contributed $608 billion to the economy in 2014-15, representing over half of private sector economic activity. Australian SMBs also employed over 7.2 million workers in 2014-15, more than two-thirds of private sector employment.
Based on a national survey of over 600 Australian SMBs, Deloitte Access Economics has taken a fresh look at levels of digital engagement, such as through SMB use of social media, e-commerce, websites, online marketing tools and data analytics. The level of business engagement was then compared with performance metrics such as revenue growth, job creation, exports and innovation in order to identify relationships between digital engagement and business performance.
The survey revealed that Australian SMBs are becoming more digitally capable over time, with the average level of digital engagement having increased relative to our 2013 Connected Small Businesses report. At the same time, the digital landscape is continually evolving. Ongoing developments in digital tools and their use by Australian SMBs means that the goalposts for SMBs to qualify as highly digitally engaged continues to shift.