Tech-savvy Small Businesses Create More Jobs: Report
Tech-savvy small and medium-sized enterprises (SMEs) created more new jobs and drove more revenue gains over the past three years than SMEs using little technology.
This was revealed in a new research commissioned by Microsoft Corp. and independently conducted by The Boston Consulting Group (BCG), a global management consulting firm and a leading adviser on business strategy.
The BCG report, Ahead of the Curve: Lessons on Technology and Growth From Small Business Leaders, which was published Saturday, Oct. 5., found there is potential for SME revenue to grow by a combined $770 billion in the five primary countries (U.S., Germany, China, India, and Brazil) if more SMEs could achieve the growth rates of those SMEs that use modern IT.
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These same SMEs could add some 6.2 million new jobs in those countries alone. What’s more, BCG believes that this association between IT adoption and growth would be consistent in countries across the world.
According to Microsoft, the results of the BCG survey of more than 4,000 SMEs in five of the world’s largest and most diverse economies were consistent across all industry sectors, but there were some surprises from emerging markets and with women-owned firms.
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Technology leaders in emerging markets grew jobs and revenue faster than in developed markets and are even quicker than their developed market counterparts to embrace new tools, and women-owned firms are among the most technically advanced, innovative and successful firms interviewed.
A copy of the report can be downloaded at http://www.bcgperspectives.com.
Photo courtesy: Microsoft