Fuelling the UK’s economic engine
Where do leaders feel tech can support them the most?
28% feel that technology improves efficiency most
26% feel that technology improves productivity most
23% feel that technology helps increase revenue most
23% feel that technology improves collaboration amongst teams most
Technology is the single biggest driver of medium business growth
Medium-sized businesses play a crucial role in the UK economy. They employ over 7.5 million people and turn over almost £1.4 trillion a year. Yet they’re operating in difficult economic circumstances. To thrive, they need more support to achieve their goals.
We surveyed 1,000 medium business leaders to understand what challenges they’re facing and what will help them succeed. We discovered that when it comes to driving medium business growth, technology is the key to success.
In our new report, we explore our findings and share stories from medium businesses who have used tech to improve customer and employee experience.
Decision-makers recognise the power of technology and are looking to embrace digital transformation to deal with the challenges ahead. To do this, they will need the support of their IT teams and digital partners. This is where there is more work to be done. While tech is clearly critical for growth, it was also chosen as the number one internal challenge faced by medium businesses. What’s more, nearly half of our respondents told us they wanted more support from their IT team to help drive their business ambitions forward.
Rethinking the focus of IT teams
Virgin Media Business and O2 Business joined forces to offer a new standard of consultancy that will help businesses achieve more with their technology. Whether you’re a tech expert or someone in need of a little more support, we take the job of problem-solving out of your hands, so you can take of your business on its digital transformation journey with confidence.
Medium-sized businesses expect more from their connectivity partners. At Virgin Media O2 Business we’re here to meet those expectations. To see the full research findings and read digital transformation stories from other business leaders, read our latest report ‘Medium businesses: Fuelling the UK’s economic engine’.
How medium-sized businesses are gearing up for successful digital transformation
Catherine Amran, Director, Small and Medium Business, Virgin Media O2 Business
To say we’re in uncertain economic times would be putting it lightly. With a looming recession and rising costs, it can be difficult to look to the positive, but if the right steps are taken then there is an opportunity to forge a better tomorrow.
Medium-sized businesses (11-249 employees) play a crucial role in the UK economy. They employ over 7.5 million people and turn over nearly £1.4 trillion a year. They are a huge contributor to growth, and it’s important they’re given the support they need to thrive
We worked with Census wide to survey 1,000 medium business leaders to understand what role tech and connectivity play in the positive momentum of these businesses. We explore these findings, and how partners can support medium business growth, in our new report. If our research unearthed anything, it’s that technology is an essential part of what comes next.
“When you look at medium businesses, we might not always make the biggest, headline grabbing strides, but collectively we're the backbone of the UK economy.”
Lynsey Barron, CEO, Volume Innovate
“From someone who'll be left doing the administration for it internally, if someone else can do some heavy lifting (on the cloud), then it's a no-brainer. It allows us to focus on supporting our team even better.”
— Alexander Dixon, Head of IT, Pollard Thomas Edwards
IT teams know their businesses inside out
This kind of knowledge could transform what medium businesses can do with their technology, so long as these team members have the bandwidth to apply this expertise. This is where specialist support comes in.
Technology problem-solving shouldn’t be the burden of a busy IT team dealing with day-to-day issues. Instead, it could be your tech partner who is there at the end of the phone, freeing up your team’s time and helping to forge an IT strategy that powers your business’ growth.
Agility, adaptability, resilience – these are the defining characteristics of medium-sized businesses. Decision-makers at these companies need partners who share these characteristics. It's time for leaders to expect more from their suppliers, partners, and IT teams. As we look towards an uncertain future, it’s vital medium businesses challenge these partners to help them overcome any obstacles in their path.
