SMB Technology Buying Trends

Research - Member ContentPublished : February 19, 2019

Tags : Industry Trends

Despite their size, small to medium-sized businesses are often just as reliant on and engaged with technology as their enterprise brethren. And while compared with larger firms, SMB organizations obviously have different budgets, staffing and skills issues, and other considerations, the majority of them deploy technology as a strategic tool for reaching their business goals. This is critical given that SMB firms comprise the vast majority of all businesses in the U.S. economy and as such are the typical customer for many technology vendors and solution providers. How they spend, why they spend and what they spend on are critical to understand. Some facts: Roughly two thirds (64%) of SMBs indicate technology is a primary factor in pursuing their business objectives, including 73% of companies in the medium category of 99-249 employees. Top SMB priorities for the year ahead – implementing new systems and processes, identifying new customer segments and markets, renewing existing customer accounts, innovation, and launching new products and services. Thirty-five percent of companies also prioritize hiring skilled workers to help them drive technology initiatives into the future.

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