2025 to be the ‘year of tech’ for SMEs

According to new insights from NAB, small- to medium-sized enterprise (SME) owners said that they will ramp up their adoption of new technology, AI, and cyber security to enhance efficiency, productivity, and competitiveness.

In data collected through NAB’s economics business insights survey of 600 SMEs, 41 per cent said they planned to increase tech adoption and a third planned to use more AI and invest more into cyber security.

This comes as 76 per cent of SME owners expect their cost of business to increase while 41 per cent believe that the level of red tape will increase.

NAB group executive business and private banking, Rachel Slade, highlighted the importance of technology adoption and investment for business growth.

“The pace of technology adoption is transforming the business landscape and business owners are keenly aware of its potential to help them grow, thrive and adapt,” Slade said.

“Business owners clearly recognise the need to stay ahead of tech advancements, but they also realise that greater tech investment can help them better manage whatever challenges 2025 throws at them.

“Boosting tech investment is helping business owners to safeguard against the rising risks of cyber threats and scams, speed up processes, reduce operational errors and improve communication with customers.”

The investment into cyber security aligns with beliefs among SME owners, with 35 per cent of respondents believing they’ll face more hostility from scammers.

Slade further said that as the risk of cyber security threats climbs, “businesses are recognising the investment needed to bolster protection, safeguard their assets and maintain the trust of customers and suppliers”.

“Artificial intelligence has the potential to be a game changer for businesses looking to eliminate time consuming manual processes, automate repetitive tasks and better manage inventory,” she said.

“Despite challenges including rising costs and red tape, business owners remain optimistic that 2025 will be a defining year with tailwinds including potential rate cuts, higher revenue and increased customer demand.”

Research released by Instarem based on 700 SMEs highlighted how SMEs are strategically investing in technology, infrastructure, and talent to adapt to a rapidly evolving economic environment.

Yogesh Sangle, global head of Instarem, said: “Instarem has supported thousands of businesses in their growth journeys over the years.

“Expanding overseas allows SMEs to tap into broader customer bases and unlock market opportunities to achieve scale and growth. While a degree of caution is understandable in today’s climate, we anticipate that SMEs will continue to identify and seize opportunities that align with their goals.”

[RELATED: How are SMEs strategically investing in technology?]

Adrian Suljanovic is a journalist at Broker Daily with more than two years experience reporting on all facets of the third party distribution channel.

Adrian has written for a range of business and finance titles including IFA, Investor Daily and Lawyer’s Weekly before joining the mortgages team in 2022.

He graduated from the University of Wollongong in 2021 gaining a Bachelor of Communication & Media with a major in Digital & Social Media.

E-mail Adrian at: This email address is being protected from spambots. You need JavaScript enabled to view it.