Small businesses are still in the digital dark ages, and Australia's e-commerce market needs to be further explored

Recently, the Australian Institute of Certified Public Accountants conducted a survey of 4,227 companies in 11 markets in the Asia-Pacific region and found that Australian small businesses are in trouble because of their refusal to adopt new technologies. Only 22.3% of Australian companies achieved growth in 2020.

The survey results of businesses in Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, the Philippines, Singapore and Vietnam found that small businesses in Australia were less likely to start or increase online sales during the COVID-19 pandemic, which can be said to be an e-commerce market waiting to be developed.

Let's put it another way. In the future, if Australian small businesses refuse to transform, they are likely to lose their market business to competitors in overseas markets, and this digital divide will make Australia's post-epidemic economic recovery more difficult.

As it stands, 36% of Australian businesses have not made significant changes as part of their response plans, and only 17% have sought government support and subsidies. Not using new technologies, e-commerce and social media are all reasons for the poor performance of Australian small businesses.

In contrast, in other markets, large, medium and small enterprises are conducting digital innovation and transferring products to online sales to achieve industry profit growth. It is clear that small businesses in Australia need more help, not only financial support from the national government, but also more funds need to be invested in this market to help small businesses in the region transform and achieve new profits and development.

Survey data shows that in 2021, small businesses in Australia may still perform poorly, with only 41.4% of small businesses expected to achieve business growth this year. This figure shows that either small and medium-sized enterprises in Australia will undergo innovative transformation or face the situation where their market will be divided up by global e-commerce platforms.

Australia

E-commerce

Small Business