How does an SMB define growth?

Jump I.T. and our parent company Computer Systems Centre are “SMB” companies so we feel qualified to weigh in on the topic of growth and technology. Industry Canada defines an SMB as a any company having less then 500 employees. Here’s a more granular definition of an SMB/SME is by Industry Canada.

What’s the series about?

This blog series is meant to inform and maybe educate you on issues, ideas and potential solutions for your business with a focus on growth. We encourage you to post your thoughts and comments below and contribute to the conversation.

During this series we hope to provide you insights on how technology can help you grow your business in two fundamental areas:

• How mission critical information, access and services are important for growth
• How technology can take the business to the next level in key areas of functional expertise (customer service/support, sales and marketing and IT operations)

Our research on growth and priorities in small to medium sized businesses has led us to look at growth through two lenses: Domestic and International. A global research report from the Economic Intelligence Unit indicates that many SMBs see growth as their number one priority and  that international expansion is the preferred path to take.

However, a Conference Board of Canada’s Research Report highlights key barriers and concerns that SMB owners have regarding international expansion. These posts are not intended to replicate these reports such as these. Instead, they are intended to provide you with practical advice, insights and things you can do with technology to grow your business.

What is growth?

There are many definitions for growth, our blog series will evolve around the following:

• Financial Growth
• Capacity and Competency Growth
• Physical Growth

Financial growth revolves around three key things in an SMB. Increased revenue, increased margin and increased cashflow. There are key programs and technologies that can be used to free up cash and human resources to address this growth area.

Capacity and Competency Growth is about improving the performance of your organization in the areas of productivity, throughput, knowledge and skills. Technologies are being used to make businesses smarter and people more productive.

Physical Growth is primarily about increasing your physical presence through building expansion, space improvements and adding new locations to name a few. Technology is being used to help companies grow while protecting their information and physical assets.

We hope you get value from this blog series and welcome your comments.