Young entrepreneurs and tech

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Younger SME leaders invest more in digitalSMEs are planning to put an average of £85,000 into digital technologies and systems over the next 12 months, according to a poll by alternative lender Nucleus Commercial Finance. Some 46% of respondents said they have built or expanded their online offerings since the start of the pandemic, but expected digital spend climbs to £125,000 among younger, more tech-savvy SME leaders aged 18 to 34, compared with just £17,000 for older business leaders from age 55. Chirag Shah, chief executive of Nucleus Commercial Finance, said: “To ensure SMEs can build and implement their ambitious digital strategies, the Government and the lending industry needs to continue to provide support for SMEs and help them bounce back stronger in an accelerated digital age.”

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