Startups and small businesses usually get the short end of the stick. Considering their limited budget, the struggle to keep up with technology shouldn’t surprise you. Of course, technology is just a catch-all phrase for various innovative solutions. Lumping them together doesn’t give an accurate picture of what they have to deal with.
Below, we’ll look at the biggest technological challenges faced by small businesses – and how these challenges affect them.
1. Outdated hardware and software
Any small business needs both to manage its own operations and compete against rivals. It could be as simple as a smartphone with business apps, or as complicated as a computer with dedicated programs.
With technology evolving at exponential rates, small businesses get left behind on necessary upgrades. Hardware and software that’s out-of-date can severely impact how you run a business. Performance issues and limited features can slow you down and reduce your overall efficiency. Bugs and security holes will leave you vulnerable to cyber attacks and data loss.
2. Inadequate data security
Speaking of data loss, small businesses are usually lacking in cybersecurity measures. According to a survey by Duo Security, nearly half of these businesses (45%) don’t even think they’ll be targeted by cybercriminals.
In reality, as much as three-quarters of small businesses were threatened by security breaches at some point. The latter is based on findings by the Government Security Breaches Survey. What these numbers tell us is that small businesses are at greater risk due to inadequacies in online security.
3. No data loss recovery plan
Besides having limited cybersecurity, small businesses aren’t prepared for digital disasters. More often than not, they do not have a data backup and recovery system in place.
Keeping data secure is only a preventive step. Preparing for the worst, which is data loss, is just as important to the long-term survival of a business. The Diffusion Group highlights its relevance in a survey. They discovered that 60% of small businesses shut down no more than 6 months after experiencing data loss.
4. Missing out on cloud
Staying up-to-date on the latest technology is important for small business owners. Due to budget restrictions, they will need to innovate more if they want to compete. However, many don’t even know about cloud computing or how they could take advantage of it.
Missing out on cloud is a huge setback for small businesses who want to save money but don’t want to be left behind on the technological race. It is a cost-effective medium for data infrastructure, from storage and security to data backups.
5. Doesn’t have IT support
Businesses which rely on technology need help from IT professionals. Larger companies are usually able to afford their own in-house team, whereas smaller businesses skip them altogether.
Information technology (IT) support should be seen as a necessity, not a luxury. Contrary to popular belief, it doesn’t have to be expensive. You can outsource and hire an IT resource company so you can save on infrastructure and other costs while enjoying the perks of IT support.
With the help of an IT support company, small businesses no longer have to worry about technology or the challenges that accompany it.