Business apps
Small 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.
Tech Spend
More than seven in 10 (71%) of small-business owners say they invest in IT upgrades at least once a year.
How 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.
Other 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.
Security 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.
Upward Trajectory
78% plan to grow their businesses over the next five years, up from 67% who were looking to do so in 2014.
Sales Surge
72% expect their revenue to increase in the upcoming year, up from 62% who said the same thing a year ago.
Staff Surge
67% plan to hire more employees over the next year, up from 51% who said so in 2014.
National Economic Outlook
56% said the national economy will improve over the next 12 months, up from 45% who felt this way a year ago.
Local Economic Outlook
62% predicted that their local economy would improve over the next 12 months, up from 50% who anticipated this last year.
Cash Flow
35% said they plan to apply for a loan in the next year, up from 24% who intended to do this in 2014.