The majority of small businesses in Canada 92 are using digital tools in their business, but only 10 have fully integrated them across operations, leaving substantial productivity and growth potential untapped, finds a new report by the Canadian Federation of Independent Business CFIB co-sponsored by Payworks and Sage.
As Canadas productivity grew only 3 over the last decade compared to 18 in the United States, the report highlights how digital adoption has the potential to play an increasing role in Canadas economy.
Over half 55 of businesses saw returns on their tech investment within the first two years, with an average 29 boost in productivity in first year. On average for every 1 invested, businesses saw 1.60 in return. Digital Leaders , those who have fully integrated digital tools across all core functions, report 2.40 in returns for every 1 invested-1.7 times higher than their less mature counterparts.