Small Firms’ Tech Spending Reflects Their Optimism

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1 - Small Firms' Tech Spending Reflects Their OptimismSmall Firms’ Tech Spending Reflects Their Optimism

Small-business owners are optimistic about the economy and their business outlook, and their tech investments reflect that sentiment.

2 - Tech SpendTech Spend

More than seven in 10 (71%) of small-business owners say they invest in IT upgrades at least once a year.

3 - How Small Businesses Use TechnologyHow Small Businesses Use Technology

While more than half (54%) use new technologies to accept payments, about half (50%) use new technologies to connect to employees and 45% use new technologies to track inventory.

4 - Other Technology ApplicationsOther Technology Applications

Small-business owners are tech-savvy in other ways. A little more than four in 10 (41%) use new technologies to optimize their Websites, and 23% said they’ve created an app for customers.

5 - Security Concerns in a Technology WorldSecurity Concerns in a Technology World

59% said they are concerned about protecting customers’ proprietary data. About two-thirds (66%) have taken steps to be very prepared for a cyber-attack.

6 - Upward TrajectoryUpward Trajectory

78% plan to grow their businesses over the next five years, up from 67% who were looking to do so in 2014.

7 - Sales SurgeSales Surge

72% expect their revenue to increase in the upcoming year, up from 62% who said the same thing a year ago.

8 - Staff SurgeStaff Surge

67% plan to hire more employees over the next year, up from 51% who said so in 2014.

9 - National Economic OutlookNational Economic Outlook

56% said the national economy will improve over the next 12 months, up from 45% who felt this way a year ago.

10 - Local Economic OutlookLocal Economic Outlook

62% predicted that their local economy would improve over the next 12 months, up from 50% who anticipated this last year.

11 - Cash FlowCash Flow

35% said they plan to apply for a loan in the next year, up from 24% who intended to do this in 2014.

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