Technology solutions for lowering costs and helping your business grow
Investing in technology can provide smaller businesses with a competitive edge, reduce costs, and save time.
From accounting software that can streamline administering invoices to e-commerce software that helps remove the hassle of taking online payments, technology innovations could provide smaller businesses with powerful functionality without the high costs.
While many businesses have embraced everyday technologies such as email or online communications platforms, the Centre for Policy Studies found that nearly a quarter (22%) of smaller companies don't use digital platforms such as Google or LinkedIn.
The same survey found that almost half (49%) of smaller companies felt that technologies helped them compete against larger brands.
Help to Grow: Digital
The Department for Business, Energy and Industrial Strategy (BEIS) has launched an initiative to support smaller businesses' adoption of digital technologies and software.
The Help to Grow: Digital Initiative offers eligible smaller businesses discounts on software of up to 50% or £5,000.
Software included in the scheme consists of accounting, customer relationship management (CRM), and e-commerce solutions.
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Reference to any organisation, business and event on this page does not constitute an endorsement or recommendation from the British Business Bank or the UK Government. Whilst we make reasonable efforts to keep the information on this page up to date, we do not guarantee or warrant (implied or otherwise) that it is current, accurate or complete. The information is intended for general information purposes only and does not take into account your personal situation, nor does it constitute legal, financial, tax or other professional advice. You should always consider whether the information is applicable to your particular circumstances and, where appropriate, seek professional or specialist advice or support.
Investing in technology
Improving efficiency, adapting to changing market conditions, and scaling your business are all great reasons for your business to invest in new technology.
But funding growth in your business can be hard when you’re unsure what the future holds.
With tips on everything from cloud-based services to Smart meters, our Guide to Building Business Resilience could help your business prepare for the future.