SMEs TO SPEND £53BN ON DIGITAL MEDIA

Small firms across the UK are set to spend £53 billion on improving their digital capabilities in the next two years.

This will see 54 per cent planning to enhance their websites, while just 16 per cent will launch apps despite the ongoing rise of mobile, and ten per cent will introduce a website for the first time.

Elsewhere, 13 per cent will develop online payment support and ten per cent will introduce foreign language versions of the site in order to cater for overseas sales potential, , according to a study from SANTANDER CORPORATE & COMMERCIAL.

“Investment in digital capabilities can significantly enhance business growth opportunities for small and medium-sized businesses,” said STEPHEN DURY, MD, SME markets & business development, Santander Corporate & Commercial.

“Just having a functional website can have a dramatic impact on a firm’s visibility and connectivity with customers and other stakeholders. However, while it is great to see that many firms are focused on this, the concern is that a significant number are still failing to invest effectively and are therefore missing out on these opportunities.”

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