Many people believe that picking up the latest tech for their small business is simply too expensive for their budgets. Well, what if that tech could actually save your business money in the long term? What’s more, what if it could make you money? When you think of tech in these terms, as in how much time, energy, and effort you can save, it doesn’t make sense not to invest in tech updates for your small business. So, how do you know which ones are worth that initial investment? Rapid Page invites you to consider the following. 

Could Your Business Really Survive a Cyberattack? 

If you own a smaller business, you may think you’re safe from cyberattacks and data breaches. Recent cybersecurity stats show that small-to-medium-sized businesses are actually more susceptible to online threats than larger corporations. This means you need to take the right tech steps to prevent an attack from sabotaging your small business, such as using virtual data rooms or getting additional insurance. 

Cyber insurance coverage may seem over the top, but not having to pay out of pocket for breach expenses could save your small business. You can use the coverage to pay for data recovery and associated expenses, or a data recovery professional to complete this task if you do not employ an in-house IT consultant. In fact, savvy business owners should consider keeping a data recovery company on-call, so you won’t have to panic if your systems crash or experience a breach. You may also want to consider hiring hacking services so a professional white hat hacker can test your network’s strength. These experts can identify weaknesses so you can fortify your network. Having a plan and access to experts can give you peace of mind when it comes to protecting your small business. 

Are You Spending Most of Your Time on Administration? 

Using cybersecurity tools and experts could potentially save your business, but some tech tools can also help save you valuable time in running your small business. If you have employees to pay, for example, using a payroll service to track hours, pay, and benefits could free up quite a bit of time for other tasks, as well as keep you from making costly mistakes. Online services like ADP Workforce Now or Quickbooks make this process completely seamless and tend to offer employees more access to information around pay and benefits. 

Could Your Business Benefit From Profit-Boosting Tech? 

As a small business owner, you know the importance of profits. While overspending on tech upgrades can certainly take away from the profitability of your small business, there are some tech tools that are definitely worth the investment. If you own a restaurant, for example, implementing certain technology, such as online ordering, online reservation management, or cloud-based sales, can boost profits.

Profit-driven tech isn’t just for the restaurant industry, though, since simple, inexpensive updates, such as updating your website or creating a mobile-friendly site, can also help drive sales for just about any small business. In fact, tech can be so helpful that if you’re not innovating yours, you could be missing out on revenue streams like e-commerce that may help keep your small business afloat. So, instead of viewing tech as something to take away from your profits, start thinking of tech as a tool to increase those margins and increase success. Also, think about budgeting for tech, or any other business improvements, to decrease the risk of overspending and putting your company into debt. 

By now, you can understand why investing in tech isn’t really just an option for small businesses. If you are currently using tech in your business, you need the latest updates to keep yourself competitive. If you’re not using tech, you’re likely missing out on opportunities for growth and profits. Either way, knowing which tech is most useful and most helpful is important. So be sure to use your answers to the above questions to help guide the tech strategy for your small business. 

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By Gloria Martinez of WomenLed.org.

Looking for ways to boost business? Let the experts at Rapid Page help. You can take advantage of a variety of services such as web design, web hosting, website optimization, marketing, advertising, e-commerce and even IT! Reach out today to connect with us.