SMEs Look To Tech To Thrive

16th January 2018.

There’s a bulk of changes taking place in the UK, and indeed the wider world, which is set to impact the business community in one way or another. Before now it was thought that small firms were going to be left in the dust, as costs and risks were too high to allow them to adapt. However, according to recent data, SMEs are finally embracing modern trends and standing up against the competition.

According to the Capital Economics’ SME Growth Tracker, building an online presence has finally become a priority, as 90 percent of British businesses plan to sell their products online by the end of 2018.

Furthermore, it’s largely the smaller companies that plan to make headway by selling goods on their own websites.

The government’s industrial strategy, which puts tech at the top of the priority list, is set to give British industries a boost, particularly companies in the construction and automotive sectors.

Capital Economics also predicted that Artificial Intelligence products could become accessible to small firms as costs come down.

Embracing change is essential if your business is to compete in the business world. This means embracing new technology, new business concepts and new rules. Here at the Credit Protection Association, we pay close attention to our online presence, ensuring we are as available as we can be to businesses in need of our services. We urge our Members to follow our example and ensure your company website is fully functional, easily accessible and mobile-friendly. Invest in automated systems to simplify customer relations, while always keeping a friendly voice on the phone for a personable touch. Above all, all businesses must be financially agile enough to adapt. Don’t invest in new technology until you have the funds to operate it. If you want to free up your cash flow, please get in touch with CPA for help and advice!