SMBs want to use tech more in order to grow - but costs are proving a big barrier

• Study finds 96% of SMBs agree tech could help them reach new markets
• AI, digital marketing and ecommerce offer the biggest opportunities
• High costs and limited budgets highlight the need for removed barriers

Nearly all (96%) of the small and medium-sized businesses surveyed in a recent study by Shopify agree technology will help them to reach new markets in the next 12 months - but key hurdles are preventing them from full success.

Unsurprisingly, AI tools topped the list, with 43% seeing it as the most helpful for global expansion, but many raised cash concerns.

High costs and limited budgets (44%) and uncertainty around ROI (30%) are currently preventing SMBs from full rollout, while larger cash-backed enterprises are accelerating with a more trial-and-error approach.