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Social networks 'benefitting' businesses
Friday Nov 07, 2008 filed under : Telecoms News

Social networking can provide small businesses with significant advantages during harsh economic times, an expert has suggested.

According to Peter Bradwell, of independent think-tank Demos, the web 2.0 telecommunications solution can be used to help organisations develop and maintain relationship with partners and customers.

Recently, Demos joined with Orange Business UK to release a report on the impact of social networks on business, which suggested that the technology can help firms to survive the recession.

Speaking on behalf of Orange, Mr Bradwell added that social networking can also help companies to supervise change, especially when there is a lot of "uncertainty" in the air.

"During a financial crisis things like social networking can seem like an add-on, but it has become really important in several ways," he explained.

"The interdependence between firms now means you have to find better ways of working together and staying in touch and developing that relationship. It's a necessary way of working."

The report suggested that those companies trusting employees to network with whom they want when they want will see a positive impact on their profitability.


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