Small businesses wanting to grow into bigger ones really have to make the most of technology to do so.
And that’s why the Federation of Small Businesses (FSB) and technology association Intellect have joined forces. Together, they want to ensure that small businesses are receiving the support they need to adopt technology into the everyday running of their company.
In a joint report, the two organisations outline the importance of investing in technology, and the benefits associated with this.
It shows how over the past 12 months on average firms have spent around £3,500 on technology – proving that investment doesn’t have to be huge and even a small amount can lead to reward.
A total of 2,200 people were surveyed for the report and 85 per cent of them identified investment in technology as one of the key drivers of growth. What’s more, 62 per cent said it improved the way they communicated with customers, while it helped 53 per cent of those questioned target new customers.
So, you can see there’s a pretty strong argument for investing in technology – from improving communication to getting more people interested in your product or service, the benefits can’t really be ignored.
However, while it seems many small businesses do recognise the importance of using technology in everyday business procedures, many are understandably unsure of how to go about it.
That’s why the FSB and Intellect are petitioning Local Enterprise Partnerships (LEPs) to use any funding to help small businesses become more adept at using technology for growth.
Mike Cherry, national policy chairman of the FSB, said: “In order for small businesses to maximise the opportunities that technology presents, we need to see action from the government and LEPs to help small firms take steps to invest and grow.”
Take heed, small businesses – now’s the time to consider how you can grown in the virtual world as well as the real one.
Posted by the Secret Businessman