Technological changes enable business growth
Advancements in technology have given small businesses a chance to compete against their competition.
Advances in technology over the last 10 years have transformed the UK’s business landscape and provided more opportunities to small businesses.
That’s according to the findings of the BT Business Regeneration Report that found 78 % of small businesses believed advances such as high-speed broadband and e-commerce solutions had boosted industry in their area and enabled them to compete larger companies.
Industries such as construction, hotel and catering, post and telecommunications were found to have thrived. But others such as motor sales, agriculture and mining declined.
Bill Murphy, managing director of BT Business, said: “BT Business commissioned this report to study the changing face of UK business and it proves that UK SMEs are thriving in areas of previous industrial decline such as the North East and Wales.
“It is particularly exciting how the advancements of technology have resulted in the development of new businesses such as telecommunication industries, plus the fact that small businesses are not afraid to start-up in areas of previous business stagnation.”
The research showed that the largest industry increase is in telecommunications businesses, due to the rise in call centres and online enterprises.
Regionally the West Midlands and the North East have seen an increase in education services. The East Midlands has seen a 60% increase in property and business industries, and Northern Ireland has seen a 50% growth in construction enterprises.
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