Member Article

SME owners embracing new technology for business growth

60% of UK small business owners believe embracing new technology is imperative for business growth - 4 in 10 would own an autonomous car in the future

September 2015, London. A study commissioned by Plan Insurance Brokers reveals that 60% of British SME owners believe embracing new technology is imperative for business growth.

One of the latest & most talked about new technologies is driverless cars, with brands such as Google & Apple developing vehicles. Our research demonstrates that UK small businesses see the potential in this technology, much more so than consumers:

- 4 in 10 (39.8%) SME owners would own an autonomous car in the future - as opposed to just 20% of British consumers

- Two thirds believe cars will be driverless in the future - whereas 90% of consumers don’t think driverless cars will ever become a reality

- Nearly 6 in 10 small business owners think black cabs will be driverless in the future

When it comes to new technology in general, British small business owners are trailblazers:

- 60% believe that businesses have to keep up with the latest technologies in order to survive

- Over half (54.4%) of SME owners are interested to see how technology will advance, as opposed to a third of general consumers

For example, CJH of Shottery Ltd, a luxury chauffeuring business and customer of Plan Insurance Brokers, replaced its entire fleet of cars with 100% electrics this year (Tesla Model S). The benefits to their business have been significant:

- Projected increase in new customers of 35% by the end of 2015

- Excellent economy per charge – approx. 260-270 miles per tank, perfect for transfers to and from LHR (200 mile round trip)

- With the government £5,000 low emission grant and the saving on not paying VAT, electric vehicles are an affordable choice

- On top of this, businesses receive 100% tax relief against their corporation tax

- No London congestion charge

‘I am the first Chauffeur company in my town to offer a 100% electric vehicle. This has increased my turnover with new customers wanting an environmental friendly option to travel. It has also been received very well with existing corporate clients and new ones interested in there own carbon footprint as a company’, commented David Herdman, Managing Director, CJH of Shottery Ltd, Stratford on Avon.

This study was conducted by Censuswide on behalf of Plan Insurance Brokers in September 2015, sampling 1000 UK adults (including 100 SME owners).

This was posted in Bdaily's Members' News section by Plan Insurance Brokers .