Prime Highlights: 

• Over half of UK small and medium business owners now use digital platforms for business advice, showing a shift toward online tools for guidance. 

• Entrepreneurs continue to rely on personal networks alongside digital tools, balancing traditional support with modern resources. 

Key Facts: 

• 53% of SMB owners use online platforms for business guidance, with adoption highest among those aged 25-34. 

• 93% of SMB owners trust the companies supporting their operations, reflecting strong confidence in technology partners. 

Key Background: 

Small and medium businesses (SMB) in the UK are increasingly using digital tools to help run their businesses. Research by Worldpay reveals that over half of people today seek advice and guidance online. 

The research revealed that 53 percent of SMB owners resort to the use of digital tools in order to address business issues. The youngest entrepreneurs (25-34 years old) use the tools the most, approximately 60 percent of them. Nevertheless, this tendency does not prevent the significance of traditional sources of advice, since 47 percent of business owners continue to use the search engine as a source of advice. 

Trust in technology partners remains strong. The study found that 93% of small and medium business owners trust the companies that support their operations. Chris Wood, General Manager for SMB International at Worldpay, stated that managing a small business can be challenging and that entrepreneurs today depend on both their personal networks and useful tools to help their business succeed. 

Personal networks also continue to play a vital role, with the same percentage of SMB owners depending on family and friends for advice. This demonstrates that while businesses embrace new technology, they do not abandon established support systems. 

Social media has become an important source of business advice, especially for younger entrepreneurs. Fifty-one percent of business owners seek guidance on YouTube, and forty-one percent on LinkedIn. Facebook and Instagram are used by 37 percent, and TikTok by 31 percent in general, and 60 percent of respondents aged between 18 and 24. These statistics indicate that video and social channels are emerging as useful learning and problem-solving tools. 

To address these needs, more recently, Worldpay has launched Worldpay 360, a business-management and payment system for retail, hospitality, and service companies. It has such features as inventory tracking, table management, and receipts customization, which facilitate the management of the operations of the owners and guide them through various sources more easily.