Are you curious about the state of technology in small businesses? Then look no further. I’ve collected, curated and vetted a list of up-to-date statistics below. Keep reading for the top small business technology statistics.
25 Small Business Technology Statistics
Companies that have embraced digital transformation are 26% more profitable than their peers.
Companies that invest in big data, cloud technology, mobility and security can realize up to 53% faster revenue growth than their competitors.
Companies that switch to VoIP can save up to 40% on their local phone costs, as well as up to 90% on international calls.
Small businesses that fully utilize technology earn 2x more revenue per employee, experienced nearly 4x the revenue growth annually, and were almost 3x more likely to create jobs in the next year.
80% of small businesses are not taking full advantage of the technology available to them.
57% of small business owners believe they need to upgrade their current IT infrastructure.
On average small businesses spend 200 minutes to resolve an incidence of IT downtime.
27% of small businesses do not have IT support.
80% of businesses use at least one online platform for marketing and advertising.
75% of small businesses use digital platforms for sales.
79% of small business owners use digital tools to communicate with suppliers and customers.
However, only 55% of small business owners say that technology fully manages customer interactions.
Small businesses spend 35% of their annual tech budget on hardware.
Small businesses spend 31% of their annual tech budget on software, and 22% on hosted and cloud-based services.
Customer Relationship Management (CRM) software is the top technology priority for 31% of small businesses.
Financial (e.g. bookkeeping and accounting) software is the top technology priority for 28% of small businesses.
53% of small businesses in the US have a website.
While 89% of small business owners believe that having a website is effective, 11% don’t see the value of having one.
66% of small business owners rely on mobile devices to manage operations.
65% of small business owners are likely to invest in technology like artificial intelligence and automation.
28% of data breaches in 2020 involved small businesses.
According to small business owners the most exciting technology opportunities are the ability to deliver personalized real-time experiences (31%) and the utilization of Artificial Intelligence and automated bots (17%).
80% of small businesses are still using a manual integration tool.
Cloud solutions decrease small business workload by at least 42%.
Mobile apps save small business employees 725 million work hours per year.
I hope these stats helped you understand the current state of technology adoption by small business owners, and highlighted some areas of opportunity for your business.
If you want to go even deeper you should read my post on why you should consider technology investments for your small business.