Many small business owners may be looking to expand their presence in some way within the online or mobile community, and in general it is believed that developing and utilizing mobile apps can be a tremendous help.
Recent data shows that 78 percent of small business owners have saved significant amounts of time every day thanks to some sort of mobile app use, according to a report from the tech news site Wired. Those businesses, accounting for about 1.28 million nationwide, save an average of about 5.6 hours per week using these programs, helping to save roughly $275 a week by devoting the manpower to other areas. Over the course of a year, that adds up to $14,317.
Meanwhile, research from Google last year shows that the average smartphone owner has 28 apps on their devices, 11 of which were used in the previous month or so, the report said. Of the apps on their devices, users generally paid for six. Another study found that the average app user spends a little more than two hours per day using them, up 35 percent from slightly more than an hour and a half the year before.
However, when assessing the conveniences the development of mobile apps can bring to businesses and in turn save them significant amounts of money, it's vital that businesses do not underestimate their needs, the report said. The amount of capital it generally takes to create apps is high – anywhere from $5,000 to $35,000 – but those who undershoot their needs in this area will likely probably not see quite so much of a return investment on their efforts. And while it's certainly possible to develop extremely useful apps for relatively little money, shortchanging needs or cutting corners is likely not very wise for owners.
However, because of the large cost involved in creating and rolling out these programs, it may give some owners pause. Because of the high and typically rising costs seen for all sorts of small business insurance needs, including those for general liability insurance and workers' comp insurance, companies have to closely consider exactly which ways they can best allocate their money in an effort to increase the reach of their organization and potentially expand the size of its operations down the road.