Mastercard recently released a study focusing on global small businesses. They studies small businesses in Brazil, South Africa, Canada, and Germany. Check out the full study here.
Here’s a high level overview of the study findings:
- Small businesses owners cite cost (46%) and a lack of know-how (31%) as the top 2 barriers to technology adoption
- Nearly 90 percent of small businesses have a website, but only 1 in 5 offers consumers the option to buy their products and services on an eCommerce site
- Hospitality businesses are more likely to have an eCommerce site than Retail businesses (33% vs. 18%)
- Identifying New Customers (41%) and Internet Marketing and Promotion (32%) are the biggest technology-driven marketing challenges for small businesses
While small businesses in the USA have different (and often more) opportunities than those in other countries many of the challenges are the same. Some of the same challenges are the constant struggle in using technology more and more effectively. The challenge of finding MORE customers and keeping the ones they have.
What’s your challenge, are you using technology as effectively as you should be?