Social media is the golden ticket to most lockdown entrepreneurs’ start-ups, according to new research, with some spending as much as seven hours a day trawling one platform or another.
Nearly all entrepreneurs have shaped their products or services around social media trends, as the digital sphere’s influence on business has ballooned over the course of the pandemic.
More than four in five have said that social media is crucial in scaling their business, research from technology platform Intuit QuickBooks found, with each platform hosting a mass of potential customers.
Over 80 per cent of entrepreneurs added that they use social media traction to determine their overall business success – with digital platforms having the ability to make or break businesses.
Director of product in Europe at Intuit QuickBooks UK, Viktoria Ruubel said: “The importance of adopting digital technology and social media has only increased since the pandemic.
“The nature of social media means it is perfect for today’s digitally driven, ‘always on’ businesses that are constantly looking to break down barriers and reach new audiences.”