SME’s Investing In Technology To Grow In A Recession

The recession has posed many challenges to the small business and company formation sector; declining consumer spends, increasing business costs and aggressive competitor price cutting to name but a few. A recent report revealed that as a response to these challenges many small business are planning to invest in technological change to make the way they do business more efficient and cost effective.
The report found that over half of all the business asked had planned to integrate some form of technological   change, into their growth strategies for 2010.
Some 40 per cent of companies have commented that most investment will be in technology that can give their employees a more flexible work environment, for example networked computers, video and video and tele-conferencing.
Tom Wilson, chief executive of JWT, comments: ‘I am not surprised by the report’s findings; the recession has taught us that we need to work smarter if we are to keep up with competitors. That means moving away from traditional ways of working and embracing new technologies and modern practices.”