They highlighted that the survival of many SMEs is jeopardised by the recent technological advancements in the broader business arena. It has been observed that a significant number of small and medium-sized UK businesses are finding it challenging to adapt to these changes, with many experiencing difficulties as a consequence.

The specialists are now urging SMEs to overcome their technophobia and embrace innovative solutions such as Cloud and VOIP technologies. Those who do not adapt to the digital environment risk missing out on valuable business opportunities due to their fear of change and reliance on antiquated systems. Communications professionals point out that a fear of new technology remains prevalent among many business leaders, deterred by a lack of in-house technical expertise and apprehension towards daunting changes.

Juliet Moran, 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.

 “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.”

Whilst over 50% of SMEs have accelerated their digital transformation in recent years, those failing to adapt are now falling behind. Research has revealed that 48% of SME leaders still lack a clear tech investment strategy.

The success of markets like cloud computing in recent years has demonstrated that technology can be used within businesses to reduce costs while improving overall efficiency and productivity.

The public cloud computing market is estimated to reach over £533 billion in 2024, as more businesses realise these technologies make work easier and more cost-effective, not harder, and more expensive.

In spite of this, there are still myths within traditional workplaces that concepts like “cloud computing” are too complex, and they’d rather stick to what they know best. Fear of change and a lack of technical knowledge is now incredibly destructive for a business. 

Without innovating with technology, UK businesses will fall behind. Finding technology partners that can help assist with the continual change can be really helpful for the SME business.

It is important to understand that today, nothing is static with technology. Businesses need to embrace the idea of continual change and innovation, overcome fear, and build it into their way of working.