Is Social Media a Tool for Small and Medium Enterprise Market Expansion?

Is Social Media a Tool for Small and Medium Enterprise Market Expansion?

Small and medium enterprises are often deemed as a major contributor for local economies. However, a recent study has found that small and medium enterprises have the ability to expand internationally if they utilize social media. A study by Barclays focusing 500 UK small businesses found that 72% of these businesses solely use their social media platforms to market their products in the local markets, thereby overlooking customers in global markets. The study further found that while 66% of the businesses utilize Facebook to market their products locally, the figures…