“Where Main Street Meets Technology” – a study
In January 2015, Palo Alto Software surveyed approximately 500 small business owners and entrepreneurs from across 18 different industries.
The “Where Main Street Meets Technology” study found that 81% of small businesses plan to invest in technology this year and that 48% of those surveyed said that they expected to invest over $5,000 throughout the year.
Although small businesses are usually more conservative with technology-related expenditures, the entrepreneurs surveyed expressed a willingness to make changes to improve daily processes.
The new technology that business owners feel most comfortable investing in includes email marketing software, business management software, and accounting tools.
Survey respondents also indicated a willingness to run more of their business from mobile devices, including smartphones and tablets, and to run a large portion of their business operations in the cloud using SaaS (Software as a Service) tools.
Additionally, the survey found that accounting software is critical to business operations for almost half of those surveyed, where Excel and QuickBooks are still favored by both entrepreneurs and more established businesses.
Key findings from the study conclude:
- Small businesses are optimistic about growth
- Main street America business are confident in the economy and willing to invest in technology
- Business owners are looking to invest more in email marketing technology, business management software, and accounting tools
- Mobile is the new norm for small business owners with many running their business from tablets and smartphones
- For the modern business owner, cloud-based software is crucial
- Accounting tools are still essential for established businesses and entrepreneurs alike
- Even startups that haven’t yet launched are prioritizing technology
Download the full whitepaper, “Where Main Street Meets Technology,” here on Bplans.