Next-Gen Entrepreneurs Turn to AI and Social Platforms for Business Wisdom, Worldpay Research Finds

Over half of UK small and medium-sized business (SMB) owners (53%) are now turning to AI tools such as ChatGPT for practical business advice and problem-solving, according to new research from Worldpay. Despite this growing reliance on artificial intelligence, nearly all (93%) SMB owners continue to place their greatest trust in the technology partners who help run their businesses.

Digital transformation is changing how entrepreneurs seek advice

With AI tools now widely adopted and social media deeply integrated into daily life, UK business owners increasingly turn to these sources for advice. Research shows:

• Over half (53%) of UK business owners now use AI tools for practical business guidance. This rises to almost 60% for entrepreneurs aged 25-34. 
• Internet search engines remain popular, with 47% relying on them for advice.
• Social platforms are also common sources, with 51% turning to YouTube, 41% to LinkedIn, and 37% seeking guidance on Facebook or Instagram.

Rise of the TikTok Generation: Young Entrepreneurs Redefine Business Advice

Young entrepreneurs, raised in a digital world, are turning to online platforms for business guidance more than ever. While 31% of UK SMB owners use TikTok for advice, this jumps to 60% among those aged 18–24, highlighting the shift toward digital-first support. 

Yet, despite the rise of digital tools, family and friends remain just as trusted. An equal 93% of UK SMBs rely on technology partners and personal networks for business guidance, showing that even in a digital age, personal connections are still business owners’ most valued business besties.

Chris Wood, General Manager, SMB International at Worldpay, says: “Running a small business can be complicated. Entrepreneurs today must rely on both their personal networks and invest in the right tools to help their business thrive. While family and friends provide invaluable advice and emotional support, leveraging technology is equally crucial.”

To provide SMBs with the technology they need for growth and to enhance customer experiences, Worldpay has launched Worldpay 360, an all-in-one business management and payments solution.  Available across retail, hospitality and service sectors in three flexible bundles (Lite, Standard and Pro), the solution integrates Worldpay’s payment hardware and technology with Yabie’s intuitive software. Worldpay 360 allows merchants to set up quickly and access powerful features including inventory management, table management, and customisable receipts directly from the till interface.