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Digital skills increase turnover

Lloyds Bank is encouraging small businesses to improve their digital skills, following a survey
which found that highly ‘digital’ small firms and charities are twice as likely to report an
increase in turnover as the least digital.

Based on a survey of 2,000 small businesses and charities, the third annual Lloyds Bank Business
Digital Index claims that almost two in five UK small businesses (38%) and nearly half of UK charities
(49%) lack basic digital skills.

The report identifies five key skills needed to get the most out of being online – managing
information, communicating, transacting, creating and problem solving. A lack of digital skills was seen
as the main barrier to doing more business online by 15% of businesses, more than double the 2015

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