Technology Adoption by SMBs – Why it is imperative for Growth
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Did you know that SMBs account for 99.9% of businesses worldwide? Yes, globally there are more than four hundred million SMBs.
SMBs are the backbone for stimulating economic development in any country. They not only provide employment to a large section of the country but also help in lowering production costs and triggering competition among industries.
They are typically more adaptable to rapidly changing environments than large corporations because they have fewer resources. As a result, SMBs also play a crucial role in driving innovation and adopting new technologies. They serve as the trailblazers and early adopters of new innovations, helping shape the future direction of industries and economies.
However, if SMBs fail to adopt the right technology at the right time, it can hinder their own growth and potentially even stifle the growth of the wider economy. Making the transition to modern technology can be challenging for SMBs – primarily due to a lack of knowledge or technical expertise and budget constraints.
So, how can SMBs identify the right technologies for growing digitally?
This eBook has been designed to help growing SMBs identify the right technology solutions for their business and understand ways to leverage the most out of their move to these technologies.
What is included in this eBook? – A quick sneak-peek
The eBook covers everything that a modern SMB needs to identify opportunities and grow and succeed in the digital marketplace. With this eBook, understand the following:
1. Why technology adoption is important for SMBs – Learn the role of technology in the growth and development of SMBs. Also, find the major tech adoption trends among growing SMBs. Understand the benefits that SMBs can realize with the help of technology.
2. Impact of COVID-19 and the way forward – COVID-19 has certainly impacted every business and industry on the planet. Learn how it has impacted the SMBs’ landscape. Find out the trends and changes that were introduced due to the pandemic. Also, understand how technology adoption will allow SMBs to remain competitive in the changing market conditions.
3. Areas of digitalization for SMBs – SMBs need to adopt digital technologies to grow faster in the market and find an edge over their competitors. However, what are the major areas of digitalization for SMBs? Get to know these and the benefits of leading technologies like cloud computing, cybersecurity, automation, etc. for SMBs.
4. Barriers or challenges to tech adoption – The transition to technology is not free from barriers. Understand the major barriers to technology adoption that SMBs are facing. We have also listed some strategies to help SMBs overcome these challenges or barriers. So, whether you’re an SMB trying to grow your business but not sure where to start, or a service provider wanting to contribute to the development of SMBs, this eBook is for you.