If you're on the lookout for a little exposure to the small side of the market, then you're in luck.
I believe there are a good number of small cap shares on the Australian share market which have strong long-term growth potential.
Three to add to your watchlist this week are listed below. Here's why I like them:
Audinate Group Limited (ASX: AD8)
Audinate is a digital audio-visual networking technologies provider. It is best known for its innovative Dante audio over IP networking solution which is used widely across the professional live sound, commercial installation, broadcast, and recording industries globally. Demand for its industry-leading products has been hit this year because of the pandemic, but I'm confident it will bounce back strongly once the crisis passes.
Bigtincan Holdings Ltd (ASX: BTH)
Another small cap to watch is Bigtincan. It is a fast-growing provider of sales enablement software. This increasingly popular software provides businesses with the information, content, and tools sales teams need to sell more effectively. Demand for its platform has been growing strongly in recent years and even during the pandemic. This led to it recording strong recurring revenue growth in FY 2020 and guiding to more of the same this year.
Volpara Health Technologies Ltd (ASX: VHT)
A final small cap share to watch is Volpara. It is a provider of very smart software that uses artificial intelligence imaging algorithms to support the early detection of breast and lung cancer. Volpara has been growing its recurring revenues at a very strong rate over the last few years. This has been driven by its increasing market share in North America and value enhancing acquisitions. The good news is that due to the growing popularity of its software with radiologists and those recent acquisitions, I expect this positive form to continue in the coming years.
