The need for small business capital can be even stronger with the rush to put everything online. A news release from the Small Business Administration recently announced that this organization will collaborate with several high-profile businesses on a new resource. Along with Microsoft, Amazon, Facebook, Salesforce and others, the SBA will establish the Small Business Technology Coalition to offer more support to owners.
According to this release, the Coalition will involve “knowledge-sharing sessions” to help entrepreneurs learn more about important facets of online business. The source features comments from representatives at all of the participating companies, including Cindy Bates, Microsoft’s Vice President of Small and Midsize Business. She referenced the specific technology her company will bring to the effort, benefiting those with few online skills.
“Studies show that businesses that leverage modern technology grow 15% faster than those that do not,” Bates said. “We look forward to sharing how small businesses can harness the power of technology such as the Microsoft Cloud to grow and succeed in business.” The Coalition will focus on increasing awareness of online business, social media presence and other traits of a connected enterprise.
This may fill a need for greater digital literacy in small business. A Google survey from 2013, mentioned in an Inc. article, found that 55 percent of “more than 3,800 small businesses” didn’t have a website at all. Because this is so crucial to reaching an audience in today’s marketplace, not having any online presence could be a very noticeable issue for developing companies. At the same time, a survey from Clutch published last year found that nearly 70 percent of small businesses with a website began in 2013 or earlier.
For information on how to get SBA loan support, contact Growth Capital today and learn more about the most popular business loan programs.