BTOpenworlds Business Survey
Posted: 17th Mar, 2003 By: MarkJ
UK ISP BTOpenworld has released the results of their latest survey, which looked at the business plans of 200 small companies:
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Small businesses' top three priorities for the next financial year are to invest in more technology, cut down on admin costs and improve budgeting and planning.
This is according to a survey carried out by BT Openworld into what companies are building into their business plans for the next fiscal year. More than 200 companies were questioned, with three priorities standing out.
Almost one-third (27 per cent) are intending to purchase the most cutting-edge technology, such as broadband. A similar figure (26 per cent) are planning to reduce administration costs over the coming year, while a quarter of businesses are looking to improve their budgeting and planning.
Interestingly, though, most of the companies questioned (96 per cent) do not intend to reduce their entertainment-based outgoings, such as company events and corporate days. Only a minute four per cent of small businesses believe that this figure should be cut back based on last year's spend.
Duncan Ingram, managing director at BT Openworld, said: "Small businesses have recognised the need for cash-conservation during these difficult economic times. However, they've also latched on to the fact that investment in the latest technology can help deliver competitive advantage. For this reason, well budgeted and carefully targeted technology spend will still be taking place in the SME sector during the coming business year. What's more, it will also be saving them money in the long run.
Technologies such as broadband, which deliver internet connectivity at speeds of up to 50 times that of a standard dial-up connection, can deliver an almost immediate return on investment," Ingram continued.
"Improved business efficiency, greater speed of communication and the resulting improvement in relationships with customers and partners can all have a positive impact on the bottom line."
SPEND LESS, GET MORE - BUT DON'T MAKE THE SAME
MISTAKE TWICE
Small businesses' top three priorities for the next financial year are to invest in more technology, cut down on admin costs and improve budgeting and planning.
This is according to a survey carried out by BT Openworld into what companies are building into their business plans for the next fiscal year. More than 200 companies were questioned, with three priorities standing out.
Almost one-third (27 per cent) are intending to purchase the most cutting-edge technology, such as broadband. A similar figure (26 per cent) are planning to reduce administration costs over the coming year, while a quarter of businesses are looking to improve their budgeting and planning.
Interestingly, though, most of the companies questioned (96 per cent) do not intend to reduce their entertainment-based outgoings, such as company events and corporate days. Only a minute four per cent of small businesses believe that this figure should be cut back based on last year's spend.
Duncan Ingram, managing director at BT Openworld, said: "Small businesses have recognised the need for cash-conservation during these difficult economic times. However, they've also latched on to the fact that investment in the latest technology can help deliver competitive advantage. For this reason, well budgeted and carefully targeted technology spend will still be taking place in the SME sector during the coming business year. What's more, it will also be saving them money in the long run.
Technologies such as broadband, which deliver internet connectivity at speeds of up to 50 times that of a standard dial-up connection, can deliver an almost immediate return on investment," Ingram continued.
"Improved business efficiency, greater speed of communication and the resulting improvement in relationships with customers and partners can all have a positive impact on the bottom line."
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