The importance of tech investment for UK small businesses

Investment in broadband infrastructure is a key priority for 90% of small businesses in the UK in the coming 12 months, a new report has revealed.

 

According to TalkTalk Business, having steady internet connections was viewed as vital by the majority of firms.

 

Other factors needing to be addressed included how to grow and sustain sales, how to boost morale levels among staff and how to cut costs to improve efficiency.

 

Investment in new technologies was also identified as a way to succeed in 2015 by the 1,000 SME decision makers that took part in the survey.

 

Many firms are divided over their growth potential, as while a quarter of companies are optimistic, a fifth are unconvinced by their prospects.

 

Getting value for money for an internet service is very important, as firms could otherwise risk paying too much for a service that doesn’t meet their needs.

 

In the immediate aftermath of the festive season, extra expenditure can also be difficult if firms splashed out on Christmas bonuses and staff perks.

 

While these approaches in themselves should not put a company in financial turmoil, having to spend heavily on technological infrastructure could put finances under stress.

 

If money is disappearing and costs cannot be reduced, business turnaround options could be considered so that a company can continue to trade on a sound financial footing.

 

Technology plays a vital role in any firm’s attempts to stay ahead of the competition, especially in a particularly crowded marketplace.

 

Being ahead of rivals could make all the difference when looking to drive innovation and sales and this is why good quality broadband connections are essential.

 

The online marketplace is also growing so businesses will look for further opportunities to boost their sales via these platforms – however websites must be capable of handling the volumes of traffic using them.

 

Poor broadband connections can potentially disrupt sales, reduce productivity and have negative impact on staff morale – making a prime target area for investment.

 

By Phil Smith

 

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