Small and midsize businesses spend on technology, but many aren’t sure they’re getting their money’s worth, according to a survey by CompTIA, a trade association for the information technology industry.
The survey of 600 companies found that the tiniest spend an average of $29,400 annually on technology, somewhat larger small businesses spend an average of $505,700 and midsize enterprises average $687,700. When asked about the return they were getting on their tech investment, 60 percent said it was good or excellent, but 40 percent said “just OK” or were disappointed. They based their assessments on factors including time and cost savings, greater ability to get tasks done and staff and customer satisfaction.
When asked about their goals for improving their technology, the most-frequently mentioned was improving IT security, cited by 37 percent. But in a separate question asking companies about their tech to-do lists, only midsize businesses listed it as No. 1. Cybersecurity came in fifth for the tiniest businesses, and No. 3. for somewhat larger companies.
• CONTRACTING SURVEY
It costs more money to do business with the federal government. That’s the finding of an American Express small business survey that showed companies spending an average of $148,124 seeking federal contracts last year, up 15 percent from the $126,628 they spent in 2013. The dollar amounts include the cost of time spent on bidding as well as the cost of developing and creating plans and prototypes.
