new technology

Small Business Efficiency Linked to Increase in Sales

Productivity and adoption of new technology contributes to small business growth Small businesses who prioritise operational efficiency experienced a greater increase in sales with 70% witnessing a growth compared to 50% of ‘unproductive’ firms, according to a report by the Centre for Enterprise and Economic Development Research (CEEDR) and Exact. Of the small and mid-sized companies who believe they operate below the efficiency average, 24% experienced a decrease in sales compared to only 8% of the ‘above average’ firms. In regards to the small and mid-sized businesses who were struggling to be productive, 36% said that a lack of time hindered their ability to make process improvements, with 46% spending between 10 to 20% of their time on non-productive tasks. The report, which featured a... »