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Optus: Lack Of Tech Expertise Holding Back Aussie SMB

Optus asserts a lack of tech expertise is holding back Australian small to medium sized businesses, with a new report revealing 39% are failing to grasp opportunities offered by new technologies.

A report from Optus and Venture Insights with over two million local SMEs found over 40% believe adopting technology to improve efficiency will have the biggest impact on their companies, over the next three years.

Despite this, around 31% are ‘struggling’ to maintain pace with technological changes deemed critical their business success.

Around 40% also admitted to not actively protecting their business from cyberattacks.

The news comes as Australia continues to ramp up its 5G rollout, with the technology deemed to be a notable shift in the way business and smart home operations are run.

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“By adopting the latest digital and connectivity tools available today, SMBs can be better equipped to make their business more productive and successful,” states Optus Managing Director of SMB, Libby Roy.

Around 39% of SMBs were deemed to require greater internal skills and training to keep up with technology.

The news comes as local businesses continue to readpt to the requirements of remote working amidst the coronavirus pandemic, heightening the importance of robust connectivity and hardware.

Around 36% of SMBs agree advances in broadband and mobile services (such as 5G) will have a big impact on their business.

“With SMBs as the engine room of the Aussie economy, their continues sucess and digitisation are critical for the nation,” states Venture Insights Managing Director, Nigel Pugh.

The full report is available to view here.

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