How Businesses Can Use Smart Technology Investments to Move Ahead of Their Competition: Free E-book

In the face of economic volatility, businesses wonder how to manage their technology roadmap and make better investments amid macroeconomic uncertainty and volatility. While inflation and fears of a recession put pressure on businesses, more than half of small and medium-sized businesses (SMBs) are still planning to increase their year-on-year tech spending in 2023.

“Most businesses are wondering if they need to adjust their tech investments right now,” said Russ Keithley, Chief Banking Officer at Coastal Community Bank. “The truth is that investing in technology can help streamline processes and return significant business value. A dedicated, local banking partner can help companies to explore if equipment purchases are right for their business — and consider available financing options.”

The answer to managing tech investments during an economic downturn is accelerating through it with strategic investments that drive differentiation and growth. Cutting back to “weather the storm” is a dangerous strategy, as businesses may emerge into a disrupted market where competitors have surged ahead and stolen market share. Accelerating through the storm, on the other hand, involves making tech investments to pick up market share and potentially disrupt the market.

To help businesses navigate this challenge, the free e-book “Accelerating Through The Downturn: How Businesses Can Use Smart Technology Investments to Move Ahead of their Competition” provides guidance on five key areas to focus tech investments.

The research and expert analysis shows that businesses that aggressively innovate in tough times are surging ahead, picking up market share, and potentially disrupting their market, while their more hesitant competitors remain stagnant.

Download the free E-book to learn how investing in tech for your business can be the smart move that propels you ahead of your competition and which tech investments make the most sense for your business.

For more information, visit Local Business Resources (coastalbank.com) or contact a banker at one of Coastal’s 14 local branches. www.coastalbank.com Member FDIC. Equal Housing Lender.