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April 19, 2023

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UK businesses ‘held back’ by technophobia, according to research

UK businesses are being held back by a reluctance to accept new technologies, experts have warned.

According to TelephoneSystems.Cloud, technophobia is threatening the future of small and medium businesses (SMEs) after the Covid-19 pandemic accelerated technological change across the wider business sector.

The communications company believes many SMEs are struggling to adapt to these changes because of their fear of change and reliance on outdated systems and, as a result, are losing out on valuable business. 

Juliet Moran, Partner Program Manager from TelephoneSystems.Cloud said: “Technology may seem scary, but decisions should never be based on what leaders are comfortable with. 

“Rather, the decision to change should be based on what will most benefit a company, aka the effectiveness of a system for operations, efficiency, and profitability. 

“The business owners that have seen earlier technological opportunities have had the advantage of accessible and streamlined systems and are now taking huge strides in the post-covid climate. 

“It can be used for many benefits, including expanding customer base, improving internal and external services, minimising admin, optimising markets, and streamlining communication threads. 

“There was once a time when people only shopped on the high street and watched films on video cassettes, but with time these industries have transformed, and the companies that didn’t adapt and embrace the change were left behind. 

“This will be the case for SMEs failing to keep up because new technology has been proven to revolutionise business operations. 

“Being on the wrong side of the digital divide will only continue to have negative implications for businesses as success continues to balance on their ability to modernise.”

Research by BT has revealed 48% of SME leaders in the UK still lack a tech investment strategy while over 50% of SMEs have accelerated their digital transformation since the pandemic, and those failing to adapt are now falling behind. 

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