@pennypower White Paper on SME's, Youth Unemployment and Social Media #DBBM
In May this year I conducted a study into the usage of social media by small businesses and have a good number of responses thanks to the support of Ecademy, Fast Future Research, BNI and The British Chamber of Commerce. Many of you participated in the survey, thank you.
The aim of my Digital Business Britain Project is to look at ways that we can extend the use of social media into many that are not adopting it, plus assist those who are using it to monetize it at a higher level. I have also become increasingly aware of the Youth Unemployment issue which now forms a large part of the project going forward.
Recently Eric Schmidt the Chairman of Google spoke about how the UK is lagging behind many other countries in digital use and access.
Key points from his talk which you can listen to HERE are: (I have also taken points from this article)
- For all the government's fine words about creating a knowledge-based economy, Britain's broadband system is far from the lightning network needed to spur innovation and foment recovery
- Digital Knowledge is critical to the exploitation of the web
- Download speeds - UK currently stands in 26th place in the global rankings, lagging the like of the Czech Republic and Hungary
- No British city even makes it into the world's top 100.
- What's at stake is infinitely more important than being able to download a movie in the blink of an eye or stream high-definition to multiple TV sets around your home.
- The internet infrastructure is every bit as fundamental to re-balancing the economy as the rail and motorway networks.
- A World Bank study found that every 10pc-point increase in broadband penetration lifts economic output by 1.3pc.
- According to management consultants McKinsey, the internet has contributed 11pc to economic growth over the past five years.
- Dr Mike Lynch, who last month sold his Autonomy software group for more than £6bn, believes Britain will become an economic backwater unless there are at least 10 high-tech firms in the FTSE 100. After Autonomy is swallowed by Hewlett-Packard, there will be just one - ARM
My many, many meetings, phone calls, emails, discussions, and talks have helped me to understand the market positioning of social media and also some of the challenges that many small business have embracing the combination of the technology and the marketing skills for modern communication.
I have now authored a White Paper on my findings suggesting some solutions. I would like to thank Rohit Talwar of Fast Future Reseach for his guidance and support in the authoring of this paper, my goodness, what a help it is when you have experienced people by your side believing in the same needs and understanding the market as well as he does.
If you would like to have a copy of the White Paper please download it from my site. www.pennypower.co.uk
While I have focused on the UK for this study, I have had many, many conversations with members and friends across the world who see the same issues regarding the need to adapt to the digital world and the issues of Youth Unemployment, I apologize to our Ecademy Family Members outside of the UK that I did not make this a Global Study, perhaps that could be my next project! However, I do think the White Paper, while the stats may be UK based is as relevant to you anywhere in the world.
We will be sending the participants of the survey an email this morning.
Many thanks for your anticipated interest and of course many thanks to all those amazing people, you know who you are, who have helped me over the last 5 months through your knowledge, skills and connections, you certainly proved to me the power of 'social capital'
Founder of Ecademy and Ecademy Digital School
Helping you build social capital in your business and life