SMEs prioritising investment in technology would boos economy

New research shows that the UK economy could benefit from a £79 billion boost in the next 12 months if SMEs could prioritise investment in new technology.

Despite the clear benefits of tech investment, 42% of SMEs are concerned that difficulties onboarding new technologies will impact their business’s ability to grow in future, whilst more than half say that the costs associated with this are concerning. These were both deemed more important than having good local transport links , sufficient office space and access to skilled labour .

According to recent research, the UK came 22 nd out of 25 European countries, with London coming last in a list of 10 European cities. Additionally, the UK’s general network speed is also poor in comparison to Europe, ranking 26 th out of 31.

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Small business owners lose out on £4,000 a year due to lack of timeA study of 500 SME owners and decision makers found that not having enough time to focus on all their expenditure is costing them nearly £350 each month on average
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