Research conducted by Optus has highlighted the need for small to medium businesses (SMBs) to receive training and advice on how to run their business, with over 60 percent of those surveyed wanting more “grassroots advice and training” according to Phil Offer, Optus small and medium business marketing director.
The key areas of focus for small business owners are IT (31 percent), financial management (17 percent) and marketing (15 percent).
The research has found that over 39 percent of small business owners go to the web for business advice. Of these, 88 percent use search engines, 73 percent go to government sites and 40 percent use specialist small business skills websites.
Offer believes that websites are an excellent resource for businesses looking for some free advice.
“With some training small businesses could save themselves time and be positioned to come out ahead when business conditions improve. One way to break this cycle is through skills coaching and community discussions online.”
As times get tougher, small businesses will be looking for more advice and training on how to manage their cash flow.
“As we see more businesses affected by the slowing economy, Australian SMB owners understand that during a downturn, financial management is imperative and cash flow a key indicator for success,” Offer said.