New guide to support small businesses using digital platforms
Newly released digital platforms guide helps small businesses to expand their online presence
3 July, 2024
The NSW Small Business Commissioner has launched a new digital platforms guide for small businesses. The guide provides helpful tips, equipping small businesses to navigate digital platforms effectively while mitigating some common risks and challenges.
Digital platforms can be a cost effective way for small businesses to expand and reach new customers and include popular social media platforms and online marketplaces.
“Digital platforms and online marketplaces have helped many small businesses grow by providing access to new customers and offering built-in tools to help take their business to the next level,” said NSW Small Business Commissioner Chris Lamont. “Despite the opportunities, there are some practical steps small businesses should take to ensure their experiences are positive, and our new guide has been designed to help”.
While digital platforms offer convenience and broad customer reach, the guide outlines some common pitfalls. Issues raised with the Commission include the unexpected suspension of accounts leading to a loss of revenue, delays in receiving payment and poor awareness of relevant terms and conditions. To help businesses navigate these issues, the guide includes a readiness checklist and case studies to highlight some of the risks.
“A growing number of small businesses have contacted the Commission to report challenges when doing business on digital platforms,” added Chris Lamont. “Through our ongoing advocacy, we are resolving the majority of matters raised with us”.
Recent survey data from the Commission indicates around one in four businesses are reliant on digital platforms, with more than half indicating that loss of access would cause severe or catastrophic impacts to their operations. Businesses operating on digital platforms or online marketplaces are most concerned about losing access to an account (74 per cent of respondents), misunderstanding contract terms and conditions (68 per cent), payment delays (60 per cent) and experiencing poor or no communication with platforms (58 per cent).