Small companies waste 12 working days yearly attributable to horrible expertise, new report reveals

Recent research shows small businesses (SMEs) typically lose one hour and 54 minutes due to technical problems every week

Small businesses are losing a staggering 98 hours annually due to malfunctioning technology, equating to 12 working days. A survey of 1,000 SME owners revealed that each week, nearly two hours of staff time is lost to technical glitches. Over a quarter grumble about incompatible software, and worn-out smartphones hinder 20% from efficient remote working.

With that, the study found that 59% feel let down by their devices at crucial moments. Consequently, 67% have had to scrap important meetings, 52% have missed deadlines, and 41% have seen business opportunities slip through their fingers due to technological failures.

A whopping seven in ten confess their device is vital to their job and the research discovered that small businesses reckon they would face an average annual loss of £228,332 or £4361.70 per week if their work phones were out of action.

Some of the main issues holding SMEs back include slow internet and outdated laptops. Small business owners estimate their productivity could surge by nearly 40% if their tech was more reliable, and over two thirds believe that morale within their business would get a boost with better-performing technology.

The research was commissioned by Samsung, which has launched a range of movie posters to dramatize the impact of defective phones and technology on small businesses.

Titles such as ‘Disconnected: The Silent Office’, ‘The Day the Calls Dropped’, ‘The Ring of Silence’, and ‘Business Phone Down’ are drawn from real-life sci-fi, drama, thriller, and action film themes. They were unveiled as part of the launch of the Galaxy A Series A56 5G Enterprise Edition, which boasts a next-day replacement service.

Interestingly, while 54% of SMEs typically upgrade outdated gadgets every two to five years, nearly half confess to skimping on tech quality, only to shell out almost £3,200 annually on repairs and updates.

On average, those surveyed spend an additional hour each week liaising with IT to fix hardware and software glitches, with 59% admitting they sometimes have to put in extra hours because of these issues.

Almost six out of ten claim that dealing with these issues can affect work performance and increases their stress levels.

Annika Bizon from Samsung commented: “Having issues with your work devices can cause a mountain of problems for business, even leading to a loss in revenue.

“We want to have SME owners back by offering next business day replacement ensuring all the productivity with none of the setbacks.”