2.5 Maximising opportunities created by technology innovation and utilisation

Technology is developing at an ever-increasing rate. Innovation and utilisation of technology in business is essential to maintain competitiveness. Many businesses are reluctant to change, but must, if they are to survive and grow

The success of e-commerce has helped companies, small and medium sized enterprises (SMEs) in particular, to consider the whole world as their marketplace. Nevertheless, for the full potential of e-commerce to be realised, infrastructure for high-speed internet access needs to be in place, and also business needs to understand the benefits of the technology.

Awareness of the benefits and opportunities offered by e-commerce is being addressed by a number of support agencies, and this has spawned the Oxfordshire Broadband Partnership whose aim is to promote the effective use of high speed internet access to Oxfordshire businesses.

There are other potential advantages to improved utilisation of technology which include flexibility of work patterns, offering employees the opportunity to work at home, to vary their commuting patterns, and to reduce travel through videoconferencing. However, a lack of skills and investment in training could hold back effective exploitation of new technologies.

Small businesses, particularly those operating in the business-to-business markets, do not lack the will to use new technology in running their firms. Electronic markets in the public and private sectors will do much to support small businesses to be sustainable.