Small business, big technology
Cloud enables rapid growth in SMBs
In a world that is increasingly underpinned by cloud technologies, the key question to current or prospective start-up founders is whether you can afford to devote time, capital and management focus on building IT capabilities for a proposition that may change beyond belief in the fight for survival.
Small and Medium Businesses (SMBs) seeking to grow sustainably face three critical challenges:
- Access to capital and skills as a start-up
- Scalability and management control as the business grows rapidly
- Optimisation and innovation as it becomes mature.
In this report, commissioned by Google, Deloitte found that SMBs using cloud technology to overcome their growth challenges grow 26% faster and deliver 21% higher gross profits. 85% of those surveyed believe cloud enable their business to scale and grow faster.
An infographic showing the impact that using Cloud Technology has on SMBs
SMBs should optimise their technology and business practices for the digital world, moving tools and applications that are not core to their customer proposition to the cloud to free up time, capital and resources while setting a platform for sustainable rapid growth.
About the research
To research this report, Deloitte conducted interviews with over 35 small and medium business ‘IT decision makers’ - typically founder, CFOs, CIOs, IT Director roles – in the UK, US and the Netherlands. They were carried out across a variety of sectors.
In addition, an online survey of 1,316 ‘IT decision makers’ that work at SMBs was conducted across Western Europe and USA. Fieldwork took place between July and August 2014.