Nearly three fifths of respondents to recent poll of 800 small businesses operating in 17 sectors plan to invest this year in technologies that would improve their companies’ productivity.
Nearly half intend to invest in mobile technologies that could help them increase market share or cement customer relationships. And close to half of those polled say they’ll invest this year in cybersecurity tools to protect their data.
However, this poll—conducted by Kabbage (www.kabbage.com), a global financial services, technology, and data platform for small businesses—reveals less enthusiasm for tech spending among the construction small businesses.
The good news is that more than half of the 80 construction-related small businesses that responded to the poll plan to invest in technologies that would remove manual processes, reduce paperwork, or improve productivity. But fewer than two-fifths of construction companies that responded to the question about cybersecurity spending said they were “somewhat likely” or “definitely will invest.” Just over one third said they’d invest in mobile technology.
Only one third of construction busineses says they are willing to increase their ad spending by at least 20% on social media, compared to nearly half of all respondents.
None of the small businesses from any sector participating in this survey was too keen on spending for real-time analytics or big data solutions. Less than one-quarter—23.45%—of the construction companies were somewhat likely or definite about making such an investment this year. Only 28% of all respondents thought big data was worth in vesting in; in fact, marketing agencies and services was the only business sector where more than 40% of its respondents answered affirmatively to this question.
The survey also asked small businesses about their attitudes on economic conditions, and the construction respondents were among the most positive. More than 69% of construction companies somewhat or strongly agreed that the U.S. economy is headed in the right direction. That compares to 63.5% of the total survey’s respondents. Marketing agencies were the most buoyant about the economy (73.3%); law office and legal service small business the least optimistic (36.4%).
Seventy-seven percent of the construction companies expected their revenues to increase by more than 20% this year, compared to 73% of the total respondents. Insurance services, manufacturing, marketing agencies, and real estate companies expressed the highest confidence about revenue growth.
Related Stories
Sponsored | BIM and Information Technology | Oct 3, 2016
A laser scanning solution for challenging topographic surveys
DeWalt Corporation, which has completed thousands of surveys over the last 50 years, began using 3D laser scanning technology nearly five years ago.
BIM and Information Technology | Sep 15, 2016
8 tips for perfecting co-location
Experts share tips and tricks for maximizing cross-team collaboration.
BIM and Information Technology | Sep 12, 2016
Draft of 2016 version of the LOD Specification has been released for public comment
The comment period is open until Sept. 23.
BIM and Information Technology | Sep 7, 2016
Energy Star Portfolio Manager tool updated to factor in waste management
The costs and benefits of managing 29 types of waste are now included.
BIM and Information Technology | Aug 30, 2016
BIM GIANTS: A ranking of the nation's top BIM design and construction firms
HOK, Perkins+Will, Turner Construction Co., The Whiting-Turner Contracting Co., Jacobs, and Thornton Tomasetti top Building Design+Construction’s annual ranking of the nation’s largest BIM AEC firms, as reported in the 2016 Giants 300 Report.
BIM and Information Technology | Aug 30, 2016
New service from CBRE provides deeper insights into in-building wireless network experiences
With dependable cellular and Wi-Fi coverage a must-have amenity for today’s businesses, CBRE to certify in-building network quality through new Cellular Signal Mapping service
BIM and Information Technology | Aug 22, 2016
The wicked problem of interoperability
Building professionals are often put in a situation where solving problems with the ‘best tool for the job’ comes at the cost of not being able to fully leverage data downstream without limitation, writes Proving Ground's Nathan Miller.
Contractors | Aug 10, 2016
Dodge launches new app to simplify pros' search for suitable projects to bid and work on
The product, called PlanRoom, could be particularly useful in sharing data and communications among AEC teams.
BIM and Information Technology | Aug 9, 2016
How to improve a project presentation with animated GIFs
Animated GIFs are a simple tool that can explain a large amount of intricate information in an easy to understand, streamlined manner.
BIM and Information Technology | Jul 25, 2016
Autodesk’s LIVE turns designs into video game-like experiences
Users can adjust navigation points, render styles, and even the time of day, with fluid and quick controls.