The Auckland Business Chamber has revealed data from their Big Tech Survey that technology will be critical for small and medium businesses in 2023.

CEO of the Auckland Business Chamber, Simon Bridges says small to medium businesses will need to stay ahead of the tech curve and make greater use of digital tools.

“Unsurprisingly, the majority of businesses, 84 percent, saw the need to make a greater investment in digital tools this year to work smarter and unleash their business potential,” he adds.

“Continually unlocking this productivity will be critical to not only helping businesses keep pace with the roller-coaster few years our country has faced, but also to building resilience and diversity, particularly in the face of disaster.”

The Big Tech Survey reveals that 88 percent of businesses are already using digital communication tools.

Eighty-one percent of businesses are using social media and 67 percent use cloud accounting services.

Read more: How can businesses use AI chatbots?

Over 60 percent of businesses have invested more in technology in 2022 than the previous year, and 69 percent expected to spend more in 2023.

In the next two years, 74 percent of businesses anticipate a greater need for digital tools.

However, only 35 percent of businesses surveyed say they have a website with payment facilities, with the rest citing affordability as they barrier to technology uptake.

As a result, Bridges adds that there is more for the Auckland Business Chamber to do to help empower small and medium business owners to invest in productivity-boosting technology.

“The significant efforts by businesses of all sizes and sectors to focus on digital acceleration is a promising start to realising technology’s potential as a growth engine,” says Bridges.

“Technology is not only essential to running a business – as a driver of growth, it will help the economy shift into a new gear and lift the living standards of all New Zealanders.”