Fifty-nine Percent of Small Businesses Say Social Media an Asset to Business

The majority of small businesses (52 percent) believe having a social media presence is important for companies, according to the Small Business Opinion Poll commissioned by Reno, Nevada-based EMPLOYERS. The national poll also revealed that although there are nearly five million small businesses leveraging social media, that figure only accounts for 16 percent of the 29.7 million small businesses in the United States based on figures from the Small Business Administration (SBA).

EMPLOYERS' small business poll indicates that a relatively low percentage of small businesses are effectively tapping these opportunities. The total still represents a significant critical mass of small businesses at 4.75 million.

Small Business Opinion Poll Snapshot:

• 52 percent believe having a social media presence is important for a company

• 59 percent of small businesses with social media presence say it has provided value to their business

• 16 percent of all polled have a business account (representing 4,752,000 based on SBA data)

• 49 percent say that their social media presence has produced advocates for their business

• 65 percent with a social media presence say they actively use it to promote their businesses

EMPLOYERS' poll also discovered that about 7.7 million small businesses or 26 percent said they are likely to use social media channels to find information on workers' compensation insurance. And while the percentage figure is relatively low today, 7.7 million small businesses represent a significant business opportunity for insurance providers to engage small businesses on social media platforms. It also illustrates that even though the majority of small businesses believe that having a social media presence is important, many are unaware of the valuable information available to them via social media channels as it relates to business insurance and other subjects relevant to running efficient, successful businesses.

Eight important tips to consider when using social media channels: