UK SMEs confident about growth prospects, face tech innovation hurdles - BT

Wednesday 15 January 2020 | 12:02 CET | News

Over half (57%) of UK SMEs are confident in the business outlook for the next 12 months, and almost one third (30%) are more confident about their growth prospects compared to last year, according to the latest research from BT.

SMEs looking to increase their technology spend in the next 12 months are the most confident in the economy and expect their business to grow revenue and growth. In parallel, almost 30 percent of SMEs expect their revenue and profit to fall in 2010, with 58 percent of SMEs expressing concern about costs and operational efficiency being their biggest business challenge. 

For technology investment, around 40 percent of SMEs believe the speed and reliability of their internet connection will become more important in 2020. Over two thirds (68%) of SMEs have no plans to boos their technology investment, and 81 percent do not expect to increase IT/telecoms spend. 

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Categories: General
Companies: BT
Countries: United Kingdom
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