Is lack of technology holding your business back?

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Research from the Federation of Small Businesses (FSB) has revealed that small businesses are spending an average of £3,500 a year on technology in a bid to grow and create jobs.

Of the 2,200 people surveyed:

  • 85 per cent identified investment in technology as a key driver of growth
  • 62 per cent said it had made a positive impact on customer communication
  • 53 per cent believe it has helped them target new customers
  • a quarter said that greater skill levels and training would provide the incentive to spend even more on technology.

The FSB survey suggested that additional technology skills could help derive greater productivity from staff and that investment ‘didn’t have to break the bank to see rewards.’

Elsewhere, the report found that:

  • one in four businesses does not have its own website
  • only a third of businesses use a website to make sales.

The FSB called it a ‘missed opportunity’, particularly as websites can be relatively cheap to set up and because small businesses are often unable to compete with larger ones in terms of advertising budgets. Mike Cherry, national policy chairman at the FSB, said: “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.”

Are you making the most of technology in your business? Talk to Vicki Harper for help