24 Tech Facts Small-Business Owner Knows

It’s incredible how many different hats small-business owners wear. Day in and day out, they oversee their teams, coordinate with partners and clients, and strategize how to grow business sustainability. Small-business owners are always expanding their knowledge, so in celebration of National Small Business Week, we’re sharing 24 little-known facts about technology. With this new knowledge, you can ensure your business is using technology to the best of its abilities.

Cybersecurity

Cybersecurity breaches pose a serious threat to small businesses and can have drastic and long-lasting impacts. As threats increase, small businesses must remain vigilant and adhere tobest security practices.

1. In 2015, 43% of phishing campaigns against organizations targeted small businesses, up from just 18% in 2011.1

2. Only 56% of Americans say they would trust a business to handle their information over the internet—but 38% of those concerned would have more trust in an organization with clear privacy policies.

3. 50% of small businesses have been breached in the past 12 months, and only 14% of small businesses say they can effectively mitigate cyber attacks and vulnerabilities.

4. On average, small businesses pay as much as $38,000 to recover from a security breach.

Conferencing

Conferences and meetings are a daily occurrence for many small businesses, and for those with remote employees or multiple offices, video conference capabilities are a must.

5. An impressive 96% of small-business professionals say video conferencing improves productivity.

6. Video conferencing doesn’t just help improve communication with current employees; it can also aid in the recruitment and hiring process.

7. The vast majority of US workers—as much as 90%—say they would like to work from home at least part of the time, and video conferencing can help make that happen.

8. Per-diem rates for travel in the continental US stands at $150 per employee—a cost that can be avoided through the use of video conferencing.

Internet

Most businesses couldn’t function without the internet. In this increasingly digital world, the more online tools you use, the greater opportunity you have to expand your customer base.

9. While just 54% of small businesses have a website currently, another 24% intend to build one sometime in the near future.

10. The internet is critical for gaining information—82% of customers conduct research online first before making a purchase in a store, and 84% of consumers trust online reviews just as much as a recommendation from a friend.

11. In 2016, regular online shoppers made 51% of their purchases online, up from just 48% the year before.

12. Think the internet is distracting? Think again: 46% of employees say the internet actually improves their productivity, while only 7% feel the internet has made them less productive.

Routers

Routers play an essential role in a small business’s internet connection and wireless network, but many small-business owners aren’t aware of their capabilities and vulnerabilities.

13. Did you know that many routers allow you to run two wireless networks simultaneously? This is great for small businesses who want to offer a separate network for guests or customers.

14. You don’t need a USB drive or storage device to share files with another computer. Just use your router’s local area network to share files.

15. Wireless networks are considered to be business’s most vulnerable IT infrastructure due to a lack of fundamental wireless security.

16. In a study examining 20 popular routers, 18 models—that’s 90%—were found to have easily guessable default passwords.

Wi-Fi

While most small businesses couldn’t imagine operating without Wi-Fi, many don’t realize the role Wi-Fi can play in attracting more customers and making more sales.

17. Around 62% of businesses say customers spend more time in their store if free Wi-Fi is available.

18. Up to 28% of retailers indicate that in-store Wi-Fi increases customer loyalty.

19. A full 45% of customers say that free Wi-Fi would enhance their shopping experience.

20. About 12% of global grocery retail customers say they use in-store Wi-Fi to access info and specials, and 66% say they would be willing to use it in the future.

Tech Equipment

Technology helps small businesses run more efficiently, accomplish more with a smaller staff, and secure important data.

21. Around one-third of companies (33%) have specific technology budgets set aside for their marketing departments.

22. When it comes to tech spending, 30% of business owners expect to allocate the biggest portion of their IT budget on network and data security technology.

23. More than half of small businesses—52%—use Cloud storage.

24. It’s estimated that up to 90% of organizations will embrace Bring Your Own Device (BYOD) programs.

Running a business and ensuring you have the best technology is no easy task. But you don’t have to go it alone. At Frontier Business, we specialize in providing small businesses affordable and reliable internet and other essential services. Keep these little-known tech facts in mind when exploring new technology for your business, and when you have questions, turn to Frontier Business for answers.

Sources
1. Symantec, “Attackers Target Both Large and Small Businesses”
2. StaySafeOnline.org, “Study Finds More Americans Concerned About Data Privacy than Losing Their Income”
3. Ponemon Institute, “2016 State of Cybersecurity in Small & Medium-Sized Businesses (SMB)”
4. Kaspersky Lab, “Damage Control: The Cost of Security Breaches IT Security Risks Special Report Series”
5. Compare Business Products, “Video Conferencing Trends of 2016”
6. Spark, “Are You Ready for Your Close Up? Video Interviewing Grows in Popularity”
7. GlobalWorkplaceAnalytics.com, “Latest Telecommuting Statistics”
8. US General Services Administration, “FY 2017 Per Diem Highlights”
9. Clutch, “Small Business Websites in 2016: A Survey”
10. Forbes Insights, “A Split Screen: Online Information and a Human Touch”
11. BrightLocal, “Local Consumer Review Survey 2016”
12. ComScore, “UPS Study: Avid Online Shoppers Making More than Half of Their Purchases with Ecommerce”
13. Pew Research Center, “Email and the Internet Are the Dominant Technological Tools in American Workplaces”
14. Fortinet, “Wireless Network the Weakest Security Link in Enterprise IT Infrastructure, According to Fortinet Global Survey of IT Leaders”
15. Wall Street Journal, “Rarely Patched Software Bugs in Home Routers Cripple Security”
16. Small Business Trends, “Why Offering Free WiFi to Your Customers Is Wise”
17. IHL Group, “Impact of Store Networks and WiFi on Customer Experience”
18. Cox Business, “2016 Cox Consumer Pulse on Small Businesses”
19. Nielsen, “The Future of Grocery”
20. CIO, “2016 State of the CIO Survey”
21. Brother, “Annual Brother Business Survey Shows Entrepreneurs Trust Office Basics for Increased Productivity, While Embracing Cloud-Based Technology”
22. Clutch, “Cloud Storage & Security: The Rundown”
23. Gartner, “Gartner Says Tablets Are the Sweet Spot of BYOD Programs”