Small business owners flocking to social media

Small business owners in Canada are becoming increasingly tech savvy, finds a BMO Bank of Montreal report, and their social media use is surging.

By Staff | October 25, 2013 | Last updated on October 25, 2013

1 min read

Small business owners in Canada are becoming increasingly tech savvy, finds a BMO Bank of Montreal report, and their social media use is surging.

Read: Insurers must go digital, says EY

The report reveals:

57% of small business owners use social media – up from 40% in 2012
46% use social media to promote their company’s brand, while 38% it to sell their products and services
38% use social media to crowd source ideas or suggestions, up 15 points from 2012
35% leverage social media to track what is being said about their company, an increase of 17 points from 2012
26% track sentiment about their competitors

Read: How to run a LinkedIn group

Social Media Scouting

One-quarter of businesses are using social media to search and source new talent, up 11 percentage points from last year, the survey finds. This increase is reflected in the spikes seen in the types of social platforms businesses are using.

The report shows:

LinkedIn enjoyed an 87% increase in engagement from Canada’s small businesses, with 28% of businesses currently using it – up from 15 per cent in 2012
Facebook also saw a significant jump, with 43% of small businesses using the tool – up from 27% last year
Nearly one-in-five businesses (17%) are now using Twitter – up from 10% in 2012

Regional Findings

Canadian Small Businesses	Overall	Atlantic	Quebec	Ontario	Alberta	B.C.
Total Use Social Media	57%	65%	56%	59%	66%	56%
Facebook	43%	47%	32%	48%	40%	43%
LinkedIn	23%	19%	13%	29%	24%	23%
Twitter	11%	15%	8%	13%	10%	11%