Technology has been instrumental in many of the ways people and businesses have adapted to the coronavirus pandemic. Communications software, digital sales, data analysis and health and safety have all played their part.
In fact, almost a fifth (19%) of business owners stated that they would struggle in a location with poor communications. It comes as no surprise that almost one in ten companies surveyed said keeping up with technology is a primary concern for 2022.
In fact, the year ahead will see technology play an additional role, reaching beyond communication and sales. 19% of the businesses surveyed plan to use technology to improve their environmental credentials. Almost a third believe that lack of technology is a barrier to becoming more sustainable.
Digital payments are nothing new. However, the sheer choice of products now available can be overwhelming as technology advances.
Over a third (34%) of businesses say they lack confidence in using online banking for their business, while more than a fifth (21%) do not fully understand digital payment systems such as POS and chip and pin machines.
Over a fifth of businesses admit that a lack of knowledge around online banking and finances is a concern for them in 2022.
In small businesses, the person who organises payment providers and does the accounts may also be the creative force behind the business.
Platforms and providers that cater to the needs of small businesses by providing simple, friendly customer support can really help to demystify this vital area.
Engineering and manufacturing
Property and construction
Beauty and wellbeing
Over a quarter of companies have embraced technology to help their businesses survive (and even thrive) during the past year, but not all have done so without finding challenges.
These range from cyber security (a key concern for 27% of businesses) to a lack of knowledge around online marketing (33%). Keeping up with rapidly moving technology demands time, knowledge, and financial investment.
A fifth of SME owners started selling through social media in 2021. However, a fifth stated that they would like to start doing so but, lack the knowledge to unleash the full potential of online marketing and social media.
Hospitality and events
Insurance and pensions