An expanding network of risk and opportunity: How UK SMEs are under-estimating the growing complexity of technology

There is no doubt that technology is dramatically shifting and rapidly expanding the landscape of opportunity for small and medium-sized enterprises (SMEs) in the UK . For example, 53% of SMEs in Europe have now adopted some kind of cloud computing service, an increase of 8 percentage points on the year before, and experts believe getting firmly on the technology bandwagon is becoming increasingly important for SME success and competitiveness with every passing year.

However, one-quarter of UK SMEs remain in the dark, not actively monitoring technologies and the impact they could have for their businesses. They also happen to be less confident in their business outlook and less opportunistic overall. For these non-adopters, technology inefficiency may add to other business challenges to create a strong headwind to long-term competitiveness and sustainability.

In order to investigate in detail how SMEs have adapted to the new technology risk landscape, the Economist Intelligence Unit, on behalf of Zurich, surveyed over 500 UK SMEs.

Topics covered:

- Technology: A requirement for SME business performance.

- Opportunity versus threat: The perception gap.

- Data protection risks.

- Emergent technology risks.

- Connecting the dots on technology risks.