Worldpay research has revealed that UK SMBs are investing 36% of their yearly revenue – amounting to over £1 trillion – in new tools and technology to help run their business.
This shift underscores the growing commitment of SMBs to embrace innovation to support productivity, efficiency and better meet customer expectations.
Just 1% of SMB owners say they are not using technology to manage any part of their business. This marks a significant shift over the past decade with research conducted by Worldpay in 2015 indicating that 1 in 5 SMBs were running their business on pen and paper.
Worldpay’s study found that:
• 90% of businesses report that their tech investments have turbocharged efficiency
• SMBs are integrating technology across functions: 54 % for financial management, 49% for marketing and sales and 47% for payment processing
• Tech adoption is strong in employee management, inventory control and CRM, averaging 40% in these areas
Chris Wood, General Manager, SMB International at Worldpay, said: “At Worldpay we’ve proudly supported SMBs for decades, witnessing firsthand the transformative power of technology in reshaping how these businesses operate. This Digital Transformation is not just a trend – it’s a vital evolution that enhances productivity, efficiency and customer satisfaction. Worldpay is on a mission provide SMBs with the right technology, empowering independent businesses to compete on a level playing field and thrive.”
