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Meta channels lead the pack as 97% of SMEs now use social media for their business

New research from iwoca reveals the overwhelming majority of UK SMEs are leveraging social media, as 97% say they use platforms to boost their business. The survey of SME owners, conducted by iwoca - one of Europe’s large SME lenders - shows Meta channels dominate the top four. Facebook leads as the top SME platform with 69% of SMEs on the network, while Instagram ranks second with 67%, and WhatsApp ranks fourth with 58% of firms using the channel.

Medium-sized firms grew jobs at twice the rate of large businesses in last decade

Over 300,000 SMEs may cut jobs to cope with hike in employer National Insurance

One in eight SME owners use Online Influencers to boost Sales and Marketing

According to iwoca, usage of social media influencers by SMEs is on the rise, with 13% endorsing this approach. Most found it had a positive business impact. TikTok usage also tripled among SMEs since 2021, particularly for those under 44. Businesses cited concerns about representation authenticity and high costs when considering influencers.

iwoca partners with business account provider Countingup to offer flexible loans

iwoca announces a partnership with business account provider Countingup to make business finance available to almost 10,000 of Countingup's users at the touch of a button.

iwoca SME Expert Index: Recession concerns drop by a third in a year, as small businesses demand larger loans

SME anxieties regarding a potential recession have eased by a third (32%) since Q4 2022, though inflation concerns remain.

SMEs in 2024: Optimistic for growth but indifferent about politics

Small business optimism returns in 2024, as half of SMEs anticipate growth this year, according to new research from iwoca – one of Europe’s largest small business lenders.

Two in five SMEs depend on Christmas for a quarter of their annual revenue

With Christmas around the corner, small and medium-sized businesses across the UK are hoping for a much-needed surge in customer spending. Research from iwoca reveals that more than two in five (44%) SME owners expect to generate over a quarter of their revenue during the festive period.