SME owners stressing over availability of digital talent
Two-thirds (67%) of small business owners say digital adoption is essential for the survival of their business, however, they are encountering significant issues competing for talent against large companies. That’s according to a survey conducted by Censuswide on behalf of digital growth consultancy LeanBPI.
The survey also found that almost three-quarters (71%) of small business owners reported that they struggle to retain talent due to competition from larger companies. As a result, the same proportion reported a digital skills gap in their sector.
Despite the competition from larger companies boasting bigger budgets and salaries, 32% of small business owners in Ireland said small enterprises have an advantage over larger businesses as they are more agile and can adapt to market changes faster. However, LeanBPI’s research suggests that this agility is not being unleashed to its full potential as small businesses appear to lag on digital adoption.
When assessing their own knowledge of digital technologies, 46% of small business owners reported feeling out of their depth, 48% said managing digital transformation was stressful and 43% admitted that they lack the confidence to drive digital change within their organisation.
One in four small business owners said they faced pushback from their teams on embracing new technologies. This is unsurprising, however, given that almost one in five of respondents admitted they did not provide sufficient training for their team on the use of digital technologies.
When it came to the current geopolitical climate, some 59% of small businesses were worried about the impact of tariffs on their business.
John O’Shanahan, founder and managing director of Lean BPI, said: “Given their size, small businesses are naturally more vulnerable when there are economic shocks, which the proposed US tariffs would undoubtedly cause. While there will always be external challenges, it’s how small businesses adapt to them that will determine their survival and success. For now, business owners are rightly concerned about tariffs, but inevitably, more challenges await – along with plenty of opportunities. The difference will be in agility and how businesses use technology to respond smartly and with speed.
“There are a number of digital grants that all small business owners should be taking advantage of. Businesses should get in touch with their Local Enterprise Office (LEO) to find out what they are entitled to and how to get it. This is the doorway to a more dynamic enterprise that can compete with confidence and resilience.”
The research was conducted on a sample of 100 business owners with 20 or fewer employees in the Republic of Ireland.
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