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What’s your top tool for business growth?

What’s the number one tool for achieving business growth for your company? According to a new study, one of the biggest sources for growth for a number of businesses all comes down to the internet. Nearly a quarter (22%) of SMEs interviewed said that their company website was the most valuable tool they had for achieving growth, saying that this was where the majority of their business and sales leads came from. If your company hasn’t got a good website sorted already, then now’s the time to act.

This survey, conducted by Fasthosts, revealed that of 100 IT and business decision makers interviewed, the company website was the most important way many businesses achieved growth. Networking events were in second place, with existing contacts in third. This just shows how important ecommerce and online presence are to a number of businesses, many of whom may have started their website to supplement their sales – only to find it a valuable tool for achieving significant growth.

The survey also revealed that nearly 1 in 3 (28%) of UK SMEs interviewed estimated they lot between £10,000 and £30,000 if their internet went down for a day. This is a huge sum of money – a further 10% believed they could lose in excess of £50,000, showing just how important internet commerce has become.

If your business wants to achieve growth then getting online is an essential step these days. In order to do so you’ll need to raise some funds – if the banks aren’t lending, then check out your alternative finance options such as factoring in order to unlock cash tied up in unpaid invoices. Getting your business online is a big part of making the most of growth opportunities - and investing in your website is a good way to improve prospects in today’s economic climate.

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