One step: Uncovering the mindsets and behaviours holding back small businesses

It’s been an incredibly tough couple of years for small business owners around the world. Though we’re starting to see signs of recovery, many are still operating under unusual circumstances.

One thing I have been really impressed with as business owners have navigated this ever-changing landscape is how well many of them have adapted their business practices. We’ve seen in-person retail businesses quickly adapt to ecommerce; service providers operating in completely new industries; and an uplift in adoption of digital tools as business owners continue to make the best of challenging circumstances.

But while many businesses are eager to adopt tools and explore new ways of operating, many small business owners still find themselves struggling to get to grips with digital tools – and at Xero, we set out to find out why.

We commissioned behavioural science experts to delve into the human factors that get in the way of small business owners from adopting the digital tools we know will help them to thrive. The resulting report, One step: Behavioural barriers to technology adoption amongst small businesses – and how to overcome them, delivers a unique perspective on the subject. It uncovers three key mindsets that are common in small business owners; delves into the top five behavioural barriers sole traders experience; and offers recommendations about how they can overcome these barriers.

The report also examines the similarities and differences in attitudes across small business owners, with more than 4,200 small business owners surveyed across Australia, New Zealand, the UK, the United States, Canada, and Singapore. Read the report for detailed regional insights.

One step is full of rich insights into why small business owners make the decisions that they do, backed up with facts and figures from our markets around the world. The insights are valuable for even the most digitally-savvy business owners, so we encourage you to read it in full.  – Read more

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