Easynet Connect’s recent study shows that internet has helped the small to medium enterprises (SMEs) a lot in successfully wading through the economic meltdown. The profit margin has gone down drastically, and around 60% of them have accepted the fact that their profits are not going to increase in 2010 even though larger enterprises are doing quite well.
Easynet is a business broadband service provider and conducted a survey to study how recession has affected the way SMEs function.
The study involved around 260 core IT decision-makers in SMEs who said that in order to increase productivity when the economic growth rate is low, they are investing in IT. In fact, around two fifth of them accepted concentrating on IT investments.
During recession, companies seem to have relied significantly on the internet. In fact, the majority of them said they could not function even an hour without it. Only one out of five businesses has accepted it can still work for long without internet in the office. In contrast, around 14% of the companies think that they cannot work at all without there being an internet connection in the office.
The growing importance of the internet for businesses is easily prominent. Four out of five SMEs think that they survived the economic troubles primarily because of the internet.
Easynet’s Managing Director said that such companies should try fibre optic internet, as it would be cost efficient for them.