If it’s true that time is money, then mobile technology is a veritable goldmine for small businesses in the U.S.
In fact, millions of small businesses are tapping into technology to save time and, ultimately, money as well – to the tune of a staggering $67.5 billion a year – by using mobile apps, tablets, and smartphones in their day-to-day business activities.
The savings were calculated based on results of a just-released survey commissioned by AT&T and the Small Business & Entrepreneurship Council (SBE Council), a nonprofit advocacy, research, training and networking organization.
Among mobile technologies, the 2014 AT&T-SBE Council Small Business Technology Poll found that smartphones are saving business owners the most time (1.24 billion hours) and money ($32.3 billion) annually. Tablets (saving 754.2 million hours and $19.6 billion a year) and mobile apps (saving 599.5 million hours and $15.6 billion a year)¹ are also providing small businesses with more time.
With the increased time savings resulting from using mobile apps and devices, business owners indicate that they’re not getting any more rest or relaxation. Instead, they’re re-investing the extra time back into their businesses to grow sales, increase engagement with customers, and research their respective industries to learn about new trends or competitors.
“Clearly, we are at a point where entrepreneurs now look first to communications technologies and innovations for solutions to improve productivity, cut costs and better manage and engage with customers,” said SBE Council president & CEO Karen Kerrigan. “That is time and money that can go back into driving sales and innovating in the marketplace.”