Challenges In Small Business | One Stop Accounting

Challenges In Small Business

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Welcome to this first edition of this efficient Tech Blog. On the following 6 months and beyond, we’ll be exploring a selection of subjects surrounding technologies and companies. The intent is to provide sources, trends, best practices, and more to businesses as it relates to engineering. Technology might be expensive and since the Web of Things takes over, keeping up with the players on your space can become hard without resources. Based on independent research company Ipsos, 9 of 10 little business owners identify the expenses of maintaining and updating technologies as their most important challenge. Additionally, just 46% feel their spending budget allows them access to the technology tools as a company that is large.

How much does the company spend on IT? In accord with this 2015 Spiceworks IT Spending Survey, this US IT spending budget is $303. As a business evolves its earnings flows another research company Structure advocates four percentage to be spent on IT. This may explain why many little companies feel as though the technology field is less than. What’re small companies spending on money based on Ipsos? Email – Laptops, desktop computers – Smartphones – Outsourced tech support – Landline phones – Mobile phones – Cloud computing technology – Tablet devices – Online storage, File sharing – Web site development tools – Video conferencing – Online collaboration tools – VoIP – Development programs – Particular programs such as Office Suite, Client relationship management, payment processing, and many others weren’t included in this list and are another source of IT spend for developing companies.

With cash flow at a premium, each dollar spent on technological should be well thought out. Small companies without this bench strength to make informed decisions as it pertains to specific or all technologies needs need to seek out a partner who might help. There’s also much at stake to go on willy-nilly. Which leads us to the second technologies challenge for small businesses. 2 Lack of IT Skill Set \/ IT Human Resource Constraints – As was cited in challenge number one, almost half of small companies outsource most or all of their technologies direction and support. For all those companies, IT HR are limited by spending budget and the capacities of the solutions provider of their choice. This could be a frightening proposal as lots of non-technical business executives have no or little technical training, which might result in overdependence on the recommendation and consequently potential wasted spend and technology that’s not a proper fit. For all those that do bring IT in-house, this challenge of recruiting and maintaining talent can be daunting.

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