Cloud computing seen as top growth opportunity for mid-market firms
Cloud computing offers the biggest opportunity for growth, according to midsized businesses north of the Border.
More than three quarters (77 per cent) of companies surveyed by legal firm Morton Fraser see the technology as an opportunity for expansion.
The firm polled 750 “financial decision makers” in a representative sample of Scottish businesses with 50 employees or more across Scotland, using Censuswide.
Mid-market businesses also identified technology such as data analytics, artificial intelligence and biotechnology as offering potential growth opportunities, along with robotics and blockchain.
According to Morton Fraser, the study demonstrates that businesses across Scotland are optimistic about the potential opportunities provided by a range of technological innovations.
Iain Young, partner and head of the corporate growth team at Morton Fraser, said: “Regardless of sector, Scottish businesses are embracing a digital future as a variety of innovations are viewed as an opportunity for growth by the mid-market.
“Now, more than ever, digital connectivity is critical for Scottish businesses to grow and digital innovation is a natural next step for businesses seeking to make the most of that connectivity.”
The findings also show a significant proportion of midmarket businesses view some new technologies as a potential threat to growth.
Young added: “Scottish businesses need to mitigate any potential negative impacts of innovation by adapting business models to the future economy through upskilling existing staff and making strategic investments in technological innovations.”
The poll took place between 29 July and 9 August.