Many British businesses are struggling to keep pace with European counterparts. These UK firms may be missing out on capital with a few missteps. Tried and tested technology could be the difference maker for these businesses. But for whatever reason, they chose not to use the technology itself. Owners will want to consider the technology to be an investment in the business. UK firms could also boost incomes among their poorest sectors within the economy.
- The Confederation of British Industry reports that British businesses are not taking advantage of new technologies.
- Failure to adopt such new technologies like, cloud, cyber security and e-purchasing, are causing them to fall behind their competitors.
- It would be in the best interest of the British government to invest funds to support businesses into adapting these new technologies.
“A CBI study, titled “From Ostrich to Magpie”, found the UK had a small contingent of highly productive firms at the cutting edge of new technologies, and the best management techniques.”