Businesses that collaborate with their peers feel more confident as a result, according to the latest Future of Business Survey.
The survey of over 200,000 SMEs from over 40 countries is a part of an ongoing project between Facebook, the OECD and World Bank.
52% of respondents said that they learn from other businesses, while 72% use online searches.
This collaborative mindset leads to an increased sense of confidence. 53% of those that share knowledge with their peers feel more confident about the short-term outlook for their business. 48% believe that they will be able to create jobs in the next 6 years.
Of the advice and guidance that business look to their peers for, 50% wanted help with marketing and advertising, while 39% wanted to know more about digital marketing.
Facebook launches UK ‘SME council’
Facebook has set up a council made up of 15 ‘rapidly-expanding small businesses from across the country’.
The aim of the council, which will meet twice a year, will bring SMEs closer to Facebook executives in order to progress solutions to help the 70 million businesses that use Facebook around the world.
“There is no better way to understand the challenges that small businesses face, and the opportunities that exist to help them grow, than by talking to them directly,” Ciaran Quilty, SME Director, Facebook, said.
“This council will not only give Facebook first-hand knowledge to improve our products and services on behalf of these important business owners, but also provide a forum for them to learn from other fast growing, digitally innovative companies in the UK.”