In 1918, there were just 10 million phone lines in service. A century on, there are over a billion in use – with 1.5 billion smartphone sales in 2017 alone. These high sales are motivated in part by constant technological advancements. Personal mobile devices are almost unrecognisable from the products of the 90s. They’ve come a long way since the 00s, too, and it’s likely that the next decade will show us smartphones with capacities
Productivity is a big concern for UK businesses – growth has flatlined since the financial crisis, and the future’s looking less than inspirational. Predictions from the Office for Budget Responsibility show it could be another decade before the country reaches annual growth targets of 2%. Various factors have contributed to this sluggishness, many of which – like political uncertainty – are out of businesses’ hands altogether.
But this doesn’t mean employers can’t strive to boost efficiency
We live in a fast-moving world, and smaller businesses can’t afford to get left behind. As such, a willingness to invest in new technologies is likely to be a key driver of success for SMEs, enabling your organisation to stay relevant and competitive.
This doesn’t mean you have to invest in every new tech platform that arrives on the scene. But doing nothing is not an option. What’s more, implementing new tech offers huge opportunities for
In a strong economy, most businesses will enjoy greater prosperity. Disposable income is at a high, consumers are financially confident, which means they’re more likely to increase their purchasing. For SMEs, it can be a double-edged sword. As trading ramps up, SME workforces can feel too stretched to handle all the new business. If the economy slumps, they’re the first to feel the pinch. And unlike their enterprise counterparts, SMEs often lack the steady cashflow
Millennials are getting older. They’re moving up the career ladder and bringing along a new set of standards for workplace culture and environment – ones which position seamless telecommunications as a high priority. Millennials may be stereotypes, but the assumptions are true – they want things faster, more reliable and easy to use.
These standards are likely to influence whether millennials decide to stay at a company or move on. They don’t want to work for
The views in these articles are the personal views of the author and are not necessarily endorsed by Gamma.