SMES failing to embrace technology, says survey

More than a third of smaller businesses believe that technological disruption poses a threat to their operations, according to new research.

In contrast, the poll of UK small and medium-sized enterprises (SMES) by Albion Capital, the investment manager, reveals that just one in five firms believes that technology will create opportunities for their business.

According to the study, SMES are prioritising investment in defence of their existing business, with half of them citing cybersecurity and data protection as their most important areas of focus.

Areas of investment which could improve efficiency and competitive differentiation saw less focus, with just over a third of SMES regarding digital marketing as a top priority, and even fewer businesses investing in cloud infrastructure (25 per cent).

Ed Lascelles, partner at Albion Capital, said: “As revenue generating technologies develop and become more affordable, SMES must embrace the opportunities on offer.”