Although it doesn't apply to every small business, a report from Discover finds that 38 percent say they're using tools like Facebook and Twitter. But while many believe the social networking trend is only popular among young people, some small business owners are discovering that's not the case.

BradsDeals.com, a website that helps users find sales and online coupons for retailers across the country, had an older demographic and was unsure if social networking would work for them, but founder Brad Wilson says social networking transcends age.

"When we started on Facebook a few weeks ago, I wasn't sure we were going to connect with people because our demographic is older," Wilson told the Chicago Tribune.

But since beginning to use Facebook and Twitter, traffic to the site has grown 150 percent over last year's numbers - good news for small business owners looking to use the sites.

Even of the entrepreneurs using social networking it appears there is still room for improvement. According to the Discover Small Business Watch report, only 45 percent of the business owners who said they use social networking actually use it to promote their business.