Wisdom’s insights

How tech investment is a modern essential for SMEs

For the purpose of my new ‘insights blog’, I will be publishing short bursts of essential topics and my expertise related to the field of technology and innovation that relate to the growing impact that SMEs have on our global economy.

For UK companies in particular, it’s important for SMEs to have the adequate technical and financial resources available in order to compete with other developed nations. In particular, cryptocurrencies & blockchain technology is a field which has seen explosive growth and traction over recent years.
For London based firms, one of the biggest barriers to adoption would be finding experienced local developers, preferably, in-house technologists who can work hand-in-hand with these companies in order to apply the necessary financial tools.

It is not easy for SMEs to educate themselves about new technologies and the impact they can have on their business. While there are all kinds of training institutions for computer languages and software packages, the one segment that still has been addressed on the training side is the business applications of technologies.

Technical barriers can be overcome, though this would often lead to another barrier; financial restraints. A general rule followed by most recruitment agencies, “more experience equals to higher fees.” This often means day rates such as £580 – £650 (Empiric recruitment agency) which is £11,600 (at a minimum), an SME would have to fork-out every month to hire a single engineer, who might not be as experienced as stated. Too much of a risk, and a financial blackhole? You decide.

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Wisdom Oparaocha
Chief Technology Officer, Populous World.