SMBs Plan to Increase Technology Investments
Updated · Aug 16, 2010
According to the findings in the recent “2010 Small and Medium Businesses Routes to Market Study,” a large number of small and midsized businesses (SMB) are optimistic about the next year and are planning to spend more on technology services and solutions during that time than they did in 2009.
As reported on Small Business Computing, the bad news is that many of them are already jammed up with information overload and haven’t been able to fully take advantage of insights that could be gained from data they already have.
“Among the top-line results, the survey found that 75 percent of SMBs have an optimistic outlook on business, and fully half (50 percent) expect revenue to grow by 10 percent or more over the next 12 months.
“Additionally, 50 percent of SMBs said they are planning to increase their investments in technology services and solutions by between 1 and 20 percent during that year-long period.
“Breaking it down, 36 percent of small businesses said their top challenge is to ‘increase revenues,’ with ‘attracting new customers’ coming in a close second at 35 percent.
“For the smallest small businesses — those with 19 or fewer employees — third place was ‘improving cash flow,’ while companies with between 20 and 99 employees said their third-largest challenge was to ‘maintain profitability.'”