Five barriers to technology adoption among India’s SMB community

 

Infotech Lead India: Five barriers to technology adoption among India’s SMB community are the following:

1.       Cost

2.       Lack of skilled labor and other resources needed to adopt technology

3.       Lack of awareness around the benefits of technology, and doubts about the return on investment from adopting technology

4.       Questions on privacy and data security

5.       Concerns over the reliability of infrastructure, namely broadband and connectivity.

According to a new study published by Intuit, a provider of business and financial management solutions for small and medium-sized businesses, the recommendations for multiple stakeholders in the small business ecosystem include:

·         Making affordable technology solutions more accessible to end-users through government credits or easy financing options, such as pay-as-you-go or installment plans.

·         Focusing on campaigns that leverage case studies around the return on investment of newer technologies for small businesses, including cloud solutions.

·         Designing training programs that address key skill gaps throughout the supply chain.

“Intuit is focused on the success of small businesses around the world. In India, the MSME sector is second only to the agriculture sector in size and makes up almost 9 percent of India’s GDP and 40 percent of its exports. Faster and massive adoption of cloud solutions and mobile technology will play a crucial role in helping MSMEs win and succeed in India. With the support of the Ministry’s leadership, together companies, training organizations and other non-profits that serve small businesses, as well as the small businesses themselves, can bring about changes that will help jumpstart the way small businesses grow and thrive in a competitive global marketplace,” said Nikhil Arora, Intuit India’s Vice President and Managing Director.

“The Indian micro and small business sector has the potential to truly drive the future growth and prosperity of India and improve the lives of millions. Achieving this crucial objective requires improving MSMEs’ ability to access financing and adopt new technologies. Collaborative initiatives such as this Intuit-led study help us better understand the pain points the sector faces and the impact our existing and future policies will have on the sector at large,” said Amarendra Sinha, additional secretary and development commissioner, Ministry of MSME.

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