Why investing in technology can drive small business growth
“Without doubt, small and midsize businesses are the powerhouse of the UK economy” – Anthony Impey, chief executive at Be the Business.
Research undertaken by Three Business has revealed two in five firms say they would increase productivity with AI and digital technology investment.
And, SMEs could contribute an additional £79 million to the UK economy in the next 12 months, if they prioritise investment in new technology.
Three Business’s study, based on economic analysis and You Gov polling of more than 2,000 SMEs, has revealed that two in five of SME business leaders say productivity would increase with investments in AI and other digital technologies, while a further 43 per cent believe such technology investment would enable them to become faster and more efficient.
The survey also revealed the concerns that SME owners have regarding their ability to onboard new technologies in order to grow, with cost concerns at the top of the list of worries. Other SME owners revealed that they don’t think they can capitalise on emerging technologies quickly enough to take full advantage of them.
Having both reliable and high-speed internet were both deemed more important than having good local transport links (64 per cent), sufficient office space (69 per cent) and access to skilled labour (83 per cent). But more than half (53 per cent) of these businesses said that poor mobile in their area could affect their ability to grow.
“Investing in technolgy can seem daunting for SME businesses, but the Infologic IT team has decades of experience in guiding businesses on what options are available to them. It is our job to ensure our clients can capitalise on all the benefits that technolgy can offer, whilst making sure they can grow their business at scale with reduced risk”, Infologics IT’s Director of Technology, David, has said.
“We are proud of our track record in helping businesses scale their growth with wise investments in technology, and we partner with them to make sure introducing new technology is a seamless operation. If your business is considering investment, let us guide and advise you on the options available and find a solution to meet your needs” he concluded.
Reach out to Infologic’s team for a chat on technology investments today!
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