Being Tech-savvy key growth determinant for SMB

Power of technology can make a significant difference in the growth of India's Small and Medium Businesses (SMBs) and are vital components for a country’s economic development. A study jointly conducted by Google and Deloitte reveals digitally engaged SMBs can outperform SMBs using little technology in terms of innovation and revenue generation. According to the study, tech-savvy SMBs can expect an annual revenue growth up to 27 percent compared to those who are not looking to embrace technology in their businesses. SMBs with higher digital engagement are more likely to accelerate employment generation by 84 percent. Also, technology inclined SMBs are more likely to expand their footprints to international markets by up to 65 percent.

Courtesy: Power2SME