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Simpler Tax Ltd Executive Summary

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A digital business model canvas for Simpler Tax Ltd. Executive Summary This report provides an analysis of Simpler Tax Ltd.’s current business model, as a tax and financial services provider. The analysis includes using the Osterwalder’s Business Model Canvas (BMC) to highlight various aspects of its business strategy, showing how it operates, creates, delivers, and captures the market. It explores how Simpler Tax Ltd. uses targeted value propositions and multi-channel distribution to serve distinct customer segments, including individual taxpayers, freelancers, and SMEs. Recommendations for fostering growth over the next 6 to 12 months, include developing a comprehensive social media strategy to target young entrepreneurs, creating more …show more content…

Exploring the effectiveness of local businesses targeting young adults (aged 17-25). The research highlights the prevalence of social media use among this demographic, making it a valuable platform for customer outreach. The study emphasises that young adults primarily utilise social media to discover sales and promotions, rather than extensive interaction; this shows the importance of crafting engaging content and actively promoting through these channels. Bitner and Albinsson (2016) suggest that businesses leverage these platforms to build relationships and foster a sense of connection with their young customer base. Social media platforms such as, TikTok and Instagram, particularly through short video formats like TikTok videos and Reels, offer valuable opportunities for Simpler Tax Ltd. to reach young entrepreneurs and stay relevant compared to their competitors. Studies by Statista (Statista, 2020) reveal that mobile phone usage has surpassed desktops globally. As a result, young entrepreneurs are likely to use their phones for financial services, making a seamless experience essential. Social media provides a powerful tool to connect with users globally. A 2024 Sprout Social Survey (Zote, 2024) states that “In terms of daily time spent on social media, Gen Z tops the list with 35% using it more than two hours a day”. Engaging content on social media platforms like Instagram and TikTok can reach a wide audience, especially young people. This may include short educational tax videos, tax-filling infographics, or content showcasing company culture, such as behind-the-scenes (BTS) videos. Tailored content, like blog posts on starting a business or tax tips for SMEs, positions Simpler Tax Ltd. as a thought leader in the young entrepreneur tax and finance system. Utilising social media analytics, Simpler Tax Ltd. can meticulously monitor user engagement with their content. Through the analysis of social media data, Simpler Tax Ltd. can

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