Want growth? Get more digital

More than four in five small businesses survey agreed that they needed to be a more digitally integrated company, according to a new report.

Poll findings from a recent KPMG in Canada survey found that, in order to grow, businesses need to accelerate digital connectivity and integration as core growth strategies.

“The last year and a half clearly demonstrated that going digital is essential for success,” said Mary Jo Fedy, national leader at KPMG Enterprise. “Companies that will lead the way forward will be able to adapt rapidly to emerging risks and capitalize on the digital opportunities realized during the pandemic through sustained tech investment and adoption.”

Respondents also said they’re investing much more in new technology (85%), while 54 per cent plan to make further digital investments a priority to bolster growth.

Still, talent remains a top hurdle for growth. KPMG reported that almost 70 per cent of small and medium businesses have plans to bump their headcount over the next three years. However, “they can’t find workers with the skills necessary to compete in today’s marketplace, raising the table stakes for retaining and attracting talent.”