Growing your business is key to success. In the first two parts of our series on business investment, we looked at how you can make the most of investing in your online presence, your staff, and new equipment.
In this blog, we will look at how investment in new tech could be beneficial for your business, with some tips for how best to go about it.
Our research* showed that 31% of businesses reported that they are prioritising the introduction of new technology to their production systems.
The potential of new tech can bring lots of benefits if you feel you’re ready for an upgrade.
With so much new technology being created every year, it’s understandable if you feel left somewhat left behind. Because of this, we highly encourage you to spend time familiarising yourself with the tech you’re eyeing up – what is it good for? How have others felt while using it? Are there any pitfalls?
Being aware of these things can prevent a lot of lost time and disappointment.
New technology is both a blessing and a curse. It opens your business up to substantial improvements to workflow, but the sheer choice out there can make it hard to decipher what your business needs, and what it wants.
Creating a priority list is super helpful in avoiding this. It’ll help you make more informed, objective decisions, opposed to those informed by the status quo, fascination, or fear of being left behind. Plus, you may even save money thanks to the lack of time and effort invested for little return.
Aldermore wants your business to achieve more. You can find out more about business savings with Aldermore here, and information about our tailored business finance options here.
*Source: Research conducted by Opinium on behalf of Aldermore between 16 – 29 April 2024 of 1,000 SME Senior Decision Makers.
Subject to status. Security may be required. Any property or asset used as security may be at risk if you do not repay any debt secured on it.