Deloitte: Cloud boost for small and medium-sized businesses

On average, small and medium businesses (SMBs) using cloud technology to overcome their growth challenges grow 26 per cent faster and deliver 21 per cent higher gross profits, according to research by Deloitte.

Speaking at Google’s Atmosphere London, Matthew Guest, head of digital strategy, EMEA, at Deloitte, said: “Small and medium businesses make up half the economy in GDP terms – they employ about 60 per cent of people in the UK and most economies similar to the UK.”

But in order for SMBs to continue to develop in the economy, they faced key challenges in the different phases of growth from start-up to becoming mature.

Guest says: “Key challenges to small business are access to capital and marketing. How do I participate in a global economy? How do I scale my business efficiently, and under controls which I can take advantage of?

“The most successful start-ups use cloud technologies to help them overcome their most severe challenges, which are access to capital and skills. When growth slows and a business reaches maturity, the cloud offers leaders an opportunity to simplify and streamline operations to unlock more capital to invest in new phases of growth.”

The research showed more than 80 per cent of SMBs believed it enabled them to scale and grow faster than would have otherwise been possible, with two thirds saying it allowed them to beat their competitors.

To optimise technology and business practices, Deloitte recommends  SMBs move tools and applications to the cloud that are not core to the customer proposition to free up time, capital and resources.

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  • iyikotu

    I agree with Deloitte, sooner or later small businesses needs to move to cloud tools, i don’t see any other way.
    Zack,
    https://www.kogimobile.com/