91探花

Amid the rising cost-of-trading and economic uncertainty, the majority (65%) of business leaders from medium-sized UK companies say technology is the biggest driver of growth. However, a third (33%) say tech is their biggest internal challenge, according to new research by Virgin Media O2 Business.

Virgin Media O2 Business鈥� research reveals the role that tech and connectivity can play in helping medium businesses (those employing between 11-249 people) to adapt and grow during tough financial times, including the current cost of living crisis.

The findings show that almost 9 in 10 (87%) business leaders say they鈥檝e noticed an improvement in productivity when they provide employees with new technology, while 77% believe it helps to boost morale.

It comes as medium businesses put in place their long-term hybrid working practices. The study finds that on average, medium business employees now spend just a quarter (25%) of their time in offices, with seven in ten businesses (70%) having more mobile connections compared to a year ago.

Catherine Amran, Director of Small and Medium Business (SMB) at Virgin Media O2 Business, said:

鈥淲ith around 250,000 medium businesses operating across the country, employing more than 7.5 million people, and turning over around 拢1.4 trillion a year, they are a huge contributor to the UK鈥檚 growth 鈥� which is even more important during these uncertain economic times.

鈥淭hat鈥檚 why it鈥檚 important medium businesses aren鈥檛 left behind and can make the most of tech to enhance their productivity, performance, and prosperity.鈥�

The Vital Role of Tech

 
Published recently, Virgin Media O2 Business鈥� report Medium businesses: Fuelling the UK鈥檚 economic engine, has found tech also brings a range of both 鈥渉ard鈥� and 鈥渟oft鈥� employee benefits 鈥� including enhanced productivity, collaboration, and morale.

The report has found that more than a quarter (28%) of medium business leaders believe the biggest benefit of technology is that it improves efficiency, while almost a quarter (23%) say its main benefit is boosting collaboration amongst teams.

The Barriers to Achieving Growth

 
Despite the clear benefits and the overwhelming importance placed on IT and tech as the fuel for business growth, medium business leaders admit it鈥檚 their biggest internal challenge. A third say their current IT set up impacts their bottom line, with it being a bigger barrier to success than other activities, such as their marketing capabilities.

Almost half (48%) say they need better IT support to realise their company鈥檚 ambitions, and a quarter (24%) of medium business leaders say IT security is one of the biggest internal challenges they are facing.

Catherine Amran continued:

鈥淎t Virgin Media O2 Business, we know that medium-sized companies are calling out for support with a range of challenges like managing remote working or enhancing their security protocols. We鈥檙e dedicated to giving them what they need to address these challenges.

鈥淥ur Get More Fund helps to provide medium businesses with access to valuable tech to support their connectivity, productivity, and collaboration, enabling them to work smarter and thrive. If medium businesses are the UK鈥檚 economic engine, then tech can be a fuel for recovery.鈥�

Through the Get More Fund, current Virgin Media Business or O2 Business customers (11 鈥� 249 employees) that extend their contracts to take both internet connectivity (broadband or leased lines) and mobile products will get 10% of the value of their new plan to spend on a range of tech for their teams, from the latest smartphones and tablets, to printers and laptops. New customers that take out both internet connectivity and mobile products will receive 10% of their total monthly contract value in a Get More Fund.

Would you like SEO or PR for your business?
Contact us here for more information >>