SMBs expect upturn to arrive early next year

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Small and medium-sized businesses (SMBs) are using technology to shield themselves from the ill effects of the recession, according to research.

What’s more, the majority of them are convinced that things will start looking up economically from January next year.

So claims the Business Pulse 2009 report, published this week by BT as part of Small Business Week, which runs from today until Friday.

SMBs who embrace IT more wholeheartedly have had a 69 per cent better than average experience of the recession, compared with the laggards who seem to have more than a third extra pain lumped onto their recessionary lot, according to the report.

Just under a third (30 per cent) of SMBs have cut costs through technology, with 32 per cent and 28 per cent using IT to help them network and attract new customers, respectively.

“Small businesses are vital to the country’s economic recovery; they don’t want a hand out, but a hand up. They know that if they make it in the tough times then they can prosper in the better times,” said Mark Prisk, MP, Conservative shadow small business minister, in a statement.

“It’s important that we listen and understand to the practical problems which they face, so that established companies can grow and new businesses can flourish,” he added.

In addition to faster broadband speeds, businesses also cited Twitter, blogging and online support forums as giving them a helping hand in the current climate. Read our Beginner's Guide to Twitter for Business here.

“The small business community has fought bravely to survive the downturn. Our findings show that many small businesses believe we are now at a tipping point with a recovery almost upon us,” added Mick Hegarty, BT Business’ strategy director, in a statement.

“We can also see that now more than ever technology has a critical role to play in the future success of these businesses, helping them to find new customers, market themselves more effectively and reduce costs. Investing in better technology is emerging as a measure of success in the future for many businesses.”

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