New UK Business Digital Index report shows growing digital divide amongst small businesses and charities
Lloyds Bank launched today the 4th issue of the annual UK Business Digital Index Review which measures the digital capability of small businesses and charities across the UK, using a combination of actual online behaviour and survey analysis, to understand their attitudes towards digital technology.
This year’s report shows that the UK’s small businesses and charities are increasingly seeing a digital skills divide, with organisations now more likely than ever to either be digital experts, or significantly lacking in digital skills according to the Lloyds Bank Business Digital Index. However, since the Index launched in 2014, twice as many organisations have developed high digital capabilities, with many more on the cusp of joining them.
The Business Digital Index, the largest study of its kind into digital capabilities of the UK’s small businesses and charities, clearly shows that being digitally savvy can pay huge dividends and is a shortcut to success. The most digitally capable small businesses are twice as likely to report an increase in turnover compared to non-digital equivalents and are also more productive. The benefits can go beyond their finances too with small businesses and charities being able to save a day a week thanks to digital capabilities. Highly digitised charities are also more than twice as likely to report an increase in donations with social media being one of the main drivers.
The report is accessible from the Lloyds Bank website, as well regional factsheets with more detail on how each local area compares with the national average.