SMBs can grow through investment in technology

Thursday 25 April 2013


The Federation of Small Businesses (FSB) and Intellect have published a joint report outlining how small and medium-sized businesses (SMBs) are benefiting from technology.

According to the organisations, SMBs have spent £3,500 on technology in the last 12 months, with 85 per cent seeing this as being "a key driver" of business growth.

Some 62 per cent of survey respondents said investment has had "a positive impact" on how they communicate with existing customers, while 53 per cent thought it had helped attract new clients.

Mike Cherry, national policy chairman of the FSB, said that in order for SMBs to maximise the opportunities that technology presents, it is important to build the understanding and skills of both the management and the workforce.

"What is obvious is that the amount invested doesn't need to break the bank, and that something as simple as improving the back-office technology can have a positive impact on operations," he stated.

Mr Cherry said action is needed from the government and local enterprise partnerships to help small companies take steps to invest and grow.

"This action must provide practical help to improve skills - while businesses say financial incentives would help, we believe that more micro measures would just add to the confusion for small firms," he stated.

Find out more about how Microsoft technology can assist with small business growth.