One key challenge is cost – some businesses see technology as a significant expense beyond their budget. In the Dropbox/Enterprise Nation report, SMBs give a number of reasons for why they’re yet to implement new digital ways of working. So, despite the benefits of taking on this new technology, what’s stopping some smaller businesses from taking the plunge? Barriers to technology This is despite both tools being considered crucial to allowing businesses to operate through difficult situations.Īt the same time, over 50% of the business owners surveyed had yet to adopt secure document signing and e-signatures. Indeed, around 25% of the business owners who responded to the survey said they didn’t use cloud computing or video conferencing. New research by Dropbox and Enterprise Nation – which surveyed 901 businesses – found that by turning manual working processes into digital ones, an SMB could save around 150 hours each year.Ĭollectively, that saved time is worth the equivalent of £8.1 billion! And it’s time that businesses could instead be using to grow.Īnd yet a large number still aren’t making the most of the available tech options, such as: But not all businesses seem to have taken advantage. For others, it was vital to their survival. For some, it was their first step into the digital world.

Throughout the COVID-19 pandemic, many of the UK’s SMBs adopted technology that helped them stay up and running during lockdown. Have better control over their finances and spending Using software, apps and other tech tools means small and medium-sized businesses (SMBs) can, for example: The advancements in technology over time have been great for business, particularly those at the smaller end of the scale.

Dropbox for small business