Although in “reasons I like small companies” news, When asked about their spending intentions, UK SMEs are three times more likely than major enterprises (49% versus 18%) to increase technology investment, according to research from recruitment company Nash Squared. SMB Group, an analyst firm looking at small business tech trends, also reports high enthusiasm for IT investment. More than half (54%) of small firms say they intend to increase tech spending.
Evidence suggests that many small business owners feel their inherent agility gives them an advantage. Nash Squared reports that twice as many SMEs (23%) as larger corporates (10%) are extremely or very effective at scaling good ideas and stopping poor ideas quickly.
It’s not all good news – the report also notes SMBs have more competition and more limited resources.
Despite a sometimes feeling of gloom, this is why I love the SMB space. Agility, enthusiasm, and willingness to move. Are you ready to move as fast as your customers want to?