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
Building Technology | Mar 25, 2019
Blockchain: A primer
The simplest explanation of this technology is that blockchain is a digital distributed ledger of transactions or records that exists across multiple participants and computers in a peer-to-peer network.
Industrial Facilities | Mar 10, 2019
The burgeoning Port San Antonio lays out growth plans
Expansions would accommodate cybersecurity, aerospace, and defense tenants, and help commercialize technologies.
Building Technology | Mar 8, 2019
What is your firm's innovation 'hit rate'?
As firms begin to adopt the practices and mindset of Silicon Valley tech and advanced manufacturing, it’s fair to ask: Are all of these innovation projects and initiatives working?
Building Technology | Mar 6, 2019
Australia’s prefab construction sector is trying to break out from its 'getting there' stage
A paper by Deloitte looks back at an origin case study. But the country has yet to develop a fully formed industry.
Building Technology | Feb 21, 2019
Smart buildings take hold: 8 ways smart tech is transforming commercial buildings
The next generation of intelligent buildings offers promise for unseen levels of energy efficiency, optimization, and occupant health and productivity.
Building Technology | Dec 20, 2018
Autodesk is spending $1.15 billion to acquire two construction tech providers
PlanGrid and BuildingConnected are the latest pieces in the company’s quest to digitize the construction industry.
Building Technology | Dec 18, 2018
Data and analytics are becoming essential for EC firms competing to rebuild America’s infrastructure
A new paper from Deloitte Consulting advises companies to revise their strategies with an eye toward leveraging advanced technologies.
3D Printing | Dec 7, 2018
Additive manufacturing heads to the jobsite
Prototype mobile 3D printing shop aims to identify additive manufacturing applications for construction jobsites.
Energy Efficiency | Dec 5, 2018
Harvard debuts HouseZero as a possible response to making existing buildings more efficient
Hundreds of embedded sensors will inform energy use reduction research.
Building Technology | Oct 15, 2018
Construction continues to be vulnerable to cyberattacks
The latest report from eSentire finds a total of 4 million “hostile events” against all sectors during the spring months.