We at Aspire Now shares the latest news update about what’s happening in Xero news.

- Call for small business to take a ‘first mover’ advantage to quickly adopt new technologies
- Warnings to avoid a digital divide between big and small business in Australia  

Xero, the global small business platform, has today released new data from Xero Small Business Insights that shows technology investment is directly associated with business growth, highlighting that Australian small businesses that increase their investment in technology grow their revenue and create jobs faster than other businesses.

Sharing the data for the first time to coincide with Xerocon Brisbane, Trent Innes, Managing Director, Xero Australia and Asia, has warned of the danger of a digital divide emerging between small businesses and large enterprises and highlighted the advantage small business has in being agile in adopting new technology.

The data update, ‘Wired for Success: the impact of technology spending on small business’, is based on anonymised and aggregated data from Xero Small Business Insights and was prepared by AlphaBeta Advisors. It finds that small businesses:

● that increase their spend on information and communications technology (ICT) are 68% more likely to be growing
● with higher ICT spending growth grew revenue 3.5 percentage points faster than those with lower ICT spending growth
● with higher ICT spending growth grew employment 5.2 percentage points faster than those with lower ICT spending growth  

It was found that, on average, Xero subscribers in Australia spend less than 1% of total revenue on ICT each year. This expenditure relates to categories including: Internet, telephone, mobile, computer, telecommunications, broadband, NBN and ADSL  

If you want to know more, please do not hesitate to call the Aspire Now team on 07-38998062 for assistance.  

Aspire Now through its Tax Agent Partners – Acro Accounting & Advanced Accounting ensure you pay no more Tax than required in a compliant environment.  

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Mr. Carlos Rodriguez -Principal at Aspire Now For more inquires please contact:
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