Despite Pandemic, Study Shows Spending On Software Was Up Among SMBs

58% of SMBs Cite Cyber-Attacks as Major Concern

TORONTO, Aug. 24, 2021 /CNW/ -- Since the beginning of the pandemic, 38% of small business owners across Canada have increased their software spending according to a survey of more than 1,000 Canadian small and medium-sized businesses (SMBs) owners. The latest "Heads Up" study, released today by Cargo and their research partner, Phase 5, also revealed that while many SMBs feel they must move their business into the cloud, 58% of them are concerned about cyber-attacks.

The research also highlighted that nearly 60% of larger SMBs (50+ employees) are likely to switch, or are considering switching, their software vendors in the next twelve months, and SMBs of any size rank online reviews as the second most important factor when choosing a vendor -- cost being first. Another major factor influencing software purchasing decisions are the employees (i.e., end-users) at SMBs. When asked about the type of help they are seeking from vendors, SMBs cited: day-to-day software support (42%), setting up the software (26%), fielding employee questions (17%), and updating to newer versions of software (16%).

Other findings show that there is room for improvement among software vendors:

-- 54% = trust their software vendors.
-- 50% = software vendors care about their business.
-- 57% = feel good, or very good, about cost transparency.
-- 58% = feel good, or very good, about the customer support they receive.
-- 21% = technology is "truly" meeting their needs.
-- 31% = technology is "not so much" meeting their needs.

"Possibly the biggest revelation in this study is how much more influence the employees have on selecting and buying software. This opens the door for more end-user targeted messaging, campaigns, and programs," says Miki Velemirovich, President of Cargo, Canada. "Continuing to solely focus on owners and IT managers at SMBs means big software brands are missing out on an additional audience that is driving the research, shopping, and buying experience."          

The 55-employee Cargo has been delivering advertising and marketing solutions and services to clients since 2006. The agency specializes in connecting big brands with medium- to small-business customers, and services some of the world's largest and best-known companies. Cargo was named one of the fastest-growing private companies by Inc. Magazine in 2020. You can learn more about Cargo at www.thecargoagency.com

SOURCE Cargo

Richard George, Cargo, [phone] mobile; [phone] office, [email protected], https://www.thecargoagency.com

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