Majority of SMBs to raise IT budget in 2022

Nine in 10 medium-sized businesses say they expect to raise their IT budget.

Majority of small and medium-sized businesses (SMBs) in Singapore said they expect to increase their budget for IT in 2022 to enhance their customer services, a study from IT service management firm, Analysys Mason, showed. 

Specifically, 65% of small-sized businesses and 91% of medium-sized businesses expect to increase their IT budgets in 2022. 

Prior to the COVID-19 crisis, SMBs are reporting that their current IT budgets went up as the pandemic forced many SMBs to invest in IT solutions such as laptops, mobile phones, and additional security for remote workers. There were also products for e-commerce, contactless payments, and digital marketing to continue operations amidst the pandemic.

With larger IT budgets, Analysys Mason said SMBs will be able to improve solutions for shipping, delivery, invoice management, and billing.

SMBs also seek to deploy on-premises and cloud-based networking and infrastructure solutions, and cybersecurity solutions including endpoint detection, intrusion detection/prevention, and mobile threat defence.