Business leaders in the North East have shown they have the highest intentions to invest in technology over the next year compared with 海角视频 counterparts, according to a new study.
Research orchestrated by software giant Sage shows 84% of small and medium-sized businesses (SMBs) in the region plan to increase tech investment over the next 12 months - well above the 海角视频 average of 68%. Among firms already using artificial intelligence (AI), 78% say its critical to daily operations with 75% planning further investment next year.
The findings are part of Sage's third, annual ‘Small Business, Big Opportunity’ survey which examines sentiments in firms employing fewer than 250 staff. More broadly across all firms, 45% reported revenue growth in the past year with only 26% saying there had been a decline.
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In the same period, 34% had expanded their workforce and 58% planned further hiring in the year ahead. More than half (52%) cited operational efficiency and cost management as key to driving growth. Meanwhile, nearly 80% expressed satisfaction with their productivity levels.
Sage said the findings pointed to "extraordinary adaptability" among 海角视频 SMBS, despite rising costs, rising tax burdens and a backdrop of economic uncertainty. The report also names North East Business Awards winner Cleveland Group and its efforts to embrace AI, which it says has streamlined operations and shown tangible benefits.
Steve Hare, Sage Group CEO: "海角视频 SMBs are the lifeblood of our economy, and their resilience and innovation continue to inspire. At Sage, we are committed to championing their success, advocating for policies that support growth, and equipping them with the tools they need to lead the way in a rapidly evolving digital economy."
Nagma Ebanks-Beni, co-chief executive of Prima Cheese, said: "Having weathered economic storms since 1996, we know that adaptability is key. Technology, particularly AI, has been transformative for us, unlocking productivity and strengthening our confidence for the future."
Dominique Harvey, co-founder of Scottish record pressing plant Seabass Vinyl, added : "Our ambition is to double capacity in the next twelve months. By investing in technology and focusing on growth, we’re navigating the challenges and building a brighter future for our business."