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Business technology investment trends 2023

Promoting growth in Europe’s SMEs

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Technology trends and IT investment priorities

In today’s increasingly challenging economic climate, technology is more critical to success than ever before. While navigating a new landscape as we adapt to hybrid working, SMEs are working harder to drive efficiencies and innovation through their technology and IT solutions.

At Sharp we were keen to find out first-hand how IT investment and planning has evolved over the past two years as well as which technology SMEs plan to adopt, and the major challenges driving change in 2023.

Insight from European IT decision makers

We surveyed almost 6,000 small enterprise IT decision makers across 11 countries in Europe to uncover the top business and technology trends that European SMEs are facing, and identify where to invest in IT services over the next twelve months. We found that rising supply cost and the cost of living crisis means leveraging their IT solutions this year is of upmost importance.

Key results from European SME research


of SMEs are investing in and planning to migrate to the cloud


of SMEs have identified hybrid working technology issues as their greatest technology challenge this year


of SME IT decision makers revealed that IT Security is the top technology challenge they face over the next 12 months


of SMEs have plans to improve their business intelligence and managed information this year


of the SMEs that we spoke to are planning to invest more than last year on IT projects and support this year, with security, cloud migration, server updates and hardware upgrades taking priority


of SMEs across Europe report that rising costs are the biggest business challenge this year

Statistics visualised

Our infographic visualises key technology trends, challenges faced and investment priorities of European SMEs for the next 12 months.


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