Westpac/MYOB launch new business toolkit to get SMEs online

SettingUpTNMYOB and Westpac have announced the launch of ‘Ready for Business’, a new joint effort that aims to provide a boost to the digital economy by advancing digital capabilities of small business.
MYOB and Westpac have announced the launch of ‘Ready for Business’, a new joint effort that aims to provide a boost to the digital economy by advancing digital capabilities of small business.

The Westpac Ready for Business Report, which surveyed 1,000 SMEs, found that 53 per cent of Aussie small businesses don’t have a website, equating to potentially more than one million businesses who are not promoting their business online.SettingUpLG

The report also surveyed 1,000 Australian consumers on their preferences when shopping, with 50 per cent saying they always use the internet to research prior to purchasing a product or service, while 53 per cent spend more than an hour shopping online a week.

“The results demonstrate a divide between the ‘digital haves’ and the ‘digital have-nots,’ Westpac General Manager, Retail Banking, Gai McGrath says. “Many businesses without digital tools such as a website and online invoicing and payment capabilities are competitively disadvantaged.”

To help combat this, Westpac has teamed up with MYOB to provide a digital toolkit called Ready for Business which offers SMEs the tools they need to start and grow their business, including a tool to build an off-the-shelf website.

Other figures from the survey include:

  • Of those small business owners who have a transactional website, 91 per cent reported an increase in revenue as a direct result of the transaction function.
  • 66 per cent of SMEs believe that having the ability to be paid online through a transactional website would provide an advantage for their company.
  • Getting set up (28%) and knowing where to start (22%) are two of the biggest challenges.
  • 43 per cent of small business owners list time as the scarcest resource over money (33 per cent).
  • 53 per cent of small businesses surveyed believe that they have missed out on business opportunities due to not having a website.

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