71% of SMB decision-makers feel better off thanks to technological adaptations than a year ago.<\/p>\n
For these decision-makers, technology has been essential to address persistent challenges include filing open positions (60%), offering employees flexible schedules (88%), and digitalizing.<\/p>\n
Addressing these challenges, therefore help these organizations improve their sales, boost talent acquisition, fight rising inflation, and solve supply chain problems.<\/p>\n
However, things were not all rosy for SMBs as 57% claimed they experienced sales decline, 69% experienced higher costs and 61% of respondents reported problems with sourcing materials.<\/p>\n
Other findings showed that 63% of SMBs have switched to digital operations, 59% have integrated technology into recruitment and retention practices and 65% have increased their revenues through digital transformation.<\/p>\n
SMBs have also added tech perks to address labour shortages.<\/p>\n
While SMBs remain bullish on their growth and recovery, the use of technology is also fuelling flexibility within the sector.<\/p>\n
The small and Midsize Business Outlook and Technology Adoption Study was conducted by Verizon Business.<\/p>\n