How does Microsoft rank SMBs?
Microsoft defines SMBs as organisations with one to three hundred employees, serving approximately 149 million customers.
Microsoft projects that IT spending for enterprises with one to three hundred employees will reach approximately $1.2 trillion in 2023. Most of that spending could still be for on-premises options, but more than $500 billion will be bills related to cloud.
Who makes the selections for buying expertise in SMBs?
Microsoft surveyed companies that have been in business for 6 to 19 years, and 4% of companies have been in business for less than three years — mostly startups that were based during or immediately after COVID-19.
The study correlates expertise adoption patterns with business results by analysing many SMBs reporting revenue growth or facing a steep decline. Here is a transitional distribution of those responsible for the resolution of expertise in these SMEs:
* Half of tech decision-makers senior and mostly GenX
* A sizeable proportion of millennials (41%) move into decision-making positions
* Eighty percent of men are experienced decision makers compared to 20% of women
* Baby boomers and GenXers are retiring, and millennials are taking on decision-making roles. Since Covid hit, many people quit their jobs and start their own businesses, mostly millennials.
How will Generation Y decision makers affect the SMB landscape?
Generation Y includes a unique mindset and shopping habits. They are digital natives born with mobile phones in their arms and bringing a consumer-centric method. Additionally, millennials have remarkably similar experiences and expectations. For example, they deserve opinions and demand more from the established order. Below are other markets impacting millennial properties:
* Millennials are instead more optimistic about the future and more confident (40% more) that their company will achieve its business goals
* Millennials want to work in companies that acquire expertise early.
* The majority (61%) are inclined to work for a company that has viable business plans and the techniques to make them happen.
In short, millennials are early adopters of expertise, something the SMB environment can use and a great factor for MSPs and other channel partners.
FOS.net focuses specifically on SMBs that have less than one hundred users. We seek to foster long-term partnerships to drive digital transformation leveraging the full power of Microsoft's 365 Business cloud platform.
See our guide: What is an MSP?