Businesses that embrace technology fare better in recession

A recent report has shown how small and medium sized businesses that have embraced technology have managed to fare better during the recession.

With the recession having wreaked havoc in the UK over the course of this year many businesses have suffered huge losses, with many even being forced to close as a result of the loss of business and unmanageable overheads. However, one recent report has shown that smaller and medium sized businesses that have embraced technology such as broadband and even mobile broadband have managed to fare better during the recession than those that have shunned this type of technology.

Businesses that used this type of technology have weather the recession at a rate of two to one compared to those that did not, according to the report. The data was compiled following a study of over seven thousand SMEs, and the results showed that those that used such technology as mobile and fixed line broadband had a far better experience during the recession.

Officials involved in the research said that companies that used technology such as this has a far better chance of increasing turnover by over ten percent compared to those that did not. Having technology such as broadband in place had allowed businesses to use resources such as social networking sites, and had enabled them to look for new business, find advice, and save money.

Larger firms also said that they had been helped through the recession by having faster broadband speeds in place. Those that have been using mobile broadband have found that they have been able to make the most of employees even whilst they have been out of the office, as they have been able to continue business as usual through the use of their mobile broadband service.

Source – Computer Weekly