Xero has found that higher technology investment is directly tied to faster revenue growth 📈 in small to medium businesses.
Australian small businesses are among the world’s fastest adopters of cloud computing
Australian small businesses are among the fastest adopters of business technology in the world. In a comparison of 30 OECD countries Australian small businesses were ranked:
3rd highest in the OECD in terms of businesses purchasing cloud computing services
5th highest in the OECD in terms of businesses using social media
However, despite Australia’s world leading position, there is still a lot of room for improvement. Two-thirds of small and medium businesses (SMBs) are still not yet connected to truly high-speed broadband such as cable or fibre to the premises. And around 15 percent of small businesses use no IT in their accounting functions.