November 15, 2018  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small Business News for Entrepreneurs

 

Small Business Technology News

 

SMB Technology Purchases Down

Written by Ken Gaebler
Published: 11/24/2009

Wells Fargo/ Gallup Small Business Index reports that SMB technology purchases are down.

With the increasing popularity of online marketing, it may be surprising news for small business owners that a recent survey reveals many SMBS are re-evaluating spending on new technology. The Wells Fargo/Gallup Small Business Index reports that many SMBs have delayed technology purchases due to the economy.

Entrepreneur Technology Value

According to Central Valley Business Times, the organization surveyed 602 SMB owners in the US and found that over half of the respondents (58 percent) were holding off on technology purchases.

In spite of delayed technology purchases, many of the respondents identify technical applications in their every day operations. Half (50 percent) of the respondents have websites and the same number accept credit cards. Moreover, a small margin of respondents (13 percent) will reportedly accelerate technology purchases.

The most frequent application of technology in small businesses is customer relations, with 29 percent saying they use social media networking. Of these respondents, 48 percent use social network sites to connect with customers, 45 percent use them to market or promote business, and 44 percent use them to build an online reputation.

Even if SMBs delay new technology purchases, continuing technological use is advisable; Clara Shih, author of The Facebook Era, told The New York Times that with "300 million people on Facebook, and still growing, that's increasingly where [small business'] audience is for a lot of products and services."

Have Friends Who Might Like This Article?

Tweet via @gaeblerdotcom Share this on Twitter

Let them know on LinkedIn

Ready to Learn More? We Think You Might Like These Articles:

 


About Our News for Small Business Owners

Our entrepreneurial news is packed with useful information for business owners. Find helpful entrepreneur resources about small business management, financing, marketing & technology.

 

 

Additional Resources for Entrepreneurs

Help for Native American Entrepreneurs

Resources for Gay Entrepreneurs

Businesses for Sale

Online Entrepreneur Tools

Economics

Lists of Small Business Incubators

Lists of Angel Investors