SME’s that were IT friendly were less affected by the recession than those that dismissed its value, a new report suggests in the largest study performed on the impact the current recession on SME’s.
The study took into account the effects of the recession on 7,200 SMEs throughout the UK, and was performed for the BT group by Vanson Bourne.
It showed that companies that had a positive view of IT and used the expertise of professionals were affected much less with figures of 34% compared to those who ignored IT, with figures of 69%.
Head of BT Business, Mike Hegarty, said that if IT technology is not taken into account a company was twice as likely to have more than 10% turnover when compared to those that had a positive view of technology.
According to the study, technology was able to help 30% of firms reduce costs, aid 28% in finding new clients, and help 32% of all businesses find advice and network.
It also showed that SME’s were beginning to see social networking as a means to an end while older firms that were larger in nature saw increased broadband speeds as helpful.
The London and South West areas reported the most advanced use out of IT teams, while the North East business areas were the least positive towards IT. In fact, Humberside and Yorkshire businesses did not think IT was helpful at all for their businesses.