Cloud technology is still unheard of among small business owners

5/27/2011

While many small business owners have cited new technology as a primary area of investment now that commercial lending practices are easing, few are familiar with cloud computing, a new survey conducted by Newtek Business Services suggests.

According to the report, as many as 71 percent of entrepreneurs said they have never heard of cloud computing. Moreover, only 26 percent of those who have heard of it could describe what it was, highlighting the general lack of awareness of this new computing technology.

"We … discovered that the concept of cloud computing has begun to disseminate into the marketplace, due primarily to large advertising programs by entities like Microsoft, Cisco and others," Newtek CEO Barry Sloane said. "Business owners will need to understand what the cloud is ... to facilitate a smooth running technological platform for their business."

Storing information in the cloud enables entrepreneurs to increase productivity, as staff can access important documents, information, files and schedules even if they aren't in the office.