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But as we began 2023, the ground shifted yet again. Pandemic side effects such as inflation and supply chain shortages have persisted, and concerns about an impending recession and the war in Ukraine have created additional worries. As a result, many SMBs have revised their growth expectations for 2023 in a downward direction.
SMBs have little or no control over how these macro trends will play out in 2023. But, as many learned during the COVID-19 pandemic, the right technology strategy and solutions can help them to overcome challenges and be ready to take advantage of new opportunities as they present themselves.
Economic pressures will make SMBs more selective about technology investments, but the vast majority of SMBs agree that the right technology solutions can help them to improve financial performance. Against a backdrop of continuing uncertainty and shifting challenges, SMBs will be laser focused on using technology to help their businesses prepare for and adapt to change so they can innovate and grow.
Amidst this continued volatility, SMB Group examines U.S. SMBs’ challenges and priorities for 2023 in our SMB Business and Technology Priorities for 2023 survey.