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TMCNet: Small, Medium-Sized Businesses See Growth Opportunities in Next 12 Months, CompTIA Study Reveals

[November 10, 2008]

Small, Medium-Sized Businesses See Growth Opportunities in Next 12 Months, CompTIA Study Reveals

OAKBROOK TERRACE, Ill. --(Business Wire)-- Though wary about current economic conditions, small and medium-sized businesses (SMBs) are hopeful that business will grow over the next 12 months, according to a new survey released today by the Computing Technology Industry Association (CompTIA).

The survey of 772 SMBs in the United States, Canada and United Kingdom found that 85 percent plan to hire new employees over the next 12 months; 54 percent anticipate revenue growth of 10 percent or more; and 40 percent plan to add new business locations.

SMBs are a bit more cautious when it comes to information technology and communications spending. The CompTIA study found that 51 percent of SMBs surveyed intend to increase their tech spending in the next 12 months; and 49 percent expect their tech spending to remain flat or to decline. By comparison, 62 percent of SMBs said in last year's study they planned to boost spending, while 38 percent said it would remain flat or decline.

"Small and mid-sized businesses have made significant investments in technology over the past dozen years," said Todd Thibodeaux, president and chief executive officer, CompTIA. "In the past, tech spending might have been one of the first line items slashed in a tough economy. Today, SMBs are savvier because they rely on technology for an increasing amount of their core business operations. It's encouraging to see that the majority SMBs plan to maintain, if not increase, current tech spending during this time of economic uncertainty."

New technology investments will support SMBs expectations of growth over the next 12 months. On average, SMBs expect to add eight new employees during that time frame; while 40 percent plan to open between one and five new locations.

The Web-based survey was conducted in September 2008 and included business with between 10 and 999 employees across several industries, including manufacturing, finance and insurance, healthcare, government, wholesale, retail, professional services, agriculture, mining, transportation, utilities and construction. For more information on the SMB technology spending study and other CompTIA research, visit www.comptia.org/research.

About CompTIA

The Computing Technology Industry Association (CompTIA) is the voice of the world's information technology (IT) industry. Its members are the companies at the forefront of innovation; and the professionals responsible for maximizing the benefits organizations receive from their investments in technology. CompTIA is dedicated to advancing industry growth through its educational programs, market research, networking events, professional certifications, and public policy advocacy. For more information, please visit www.comptia.org.

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