Collaborate UK, CitySprint’s sixth annual survey of over 1,000 SME decision makers, reveals a sharp divide between how important SMEs think new technology is to the future of their business and how much they actually invest in it.
Over three quarters (79%) of SMEs see investing in technological innovation as important, yet one in ten haven’t invested in any new technology at all in the past 12 months.
In addition, a quarter of SMEs have spent less than 10% of their budget on new technology, compared to over half (56%) who have spent between 11-30%.
This lack of investment could mean that the small businesses who spend less are falling behind their peers in terms of innovation.
The research also found that more than a third (34%) of SMEs would be more likely to adopt new tech in the future if there was increased Government support or bursaries available, while over a quarter (27%) of businesses have said they would like to see more information available on what would work for their specific business....