Small businesses are the heartbeat of Canada’s economy; they drive our economy forward and account for an astonishing 98% of employer businesses in Canada. And their impact on our GDP cannot be underestimated. According to Stats Canada, from 2015 to 2019, the average contribution of SMEs accounted for more than 50% of the value added to the country’s output.
That is why Cisco continues to invest in SMEs. It is critical to Canada’s long-term growth and economic prosperity that we nurture these businesses, support their digital transformation and help keep them competitive.
What we hear from SMEs is that digital transformation continues to be top of mind and we anticipate that nearly half will invest in digitization in 2023 and beyond.
To get them there, Cisco is delivering solutions that focus on business outcomes that matter to SME owners and operators. Cisco has defined four areas that are top of mind for SMEs in 2023:
- The Hybrid SME: Hybrid work is here to stay. According to Cisco research, 93% of SMEs ranked a hybrid workplace as a top 3 business priority. SMEs should consider their workforce dynamic and how they are driving a successful hybrid environment.
- The Smart SME: Consider how you will be selling five years from now. By 2024, 75% of Start-Ups will have a digital-first strategy. Investments in digital infrastructure are crucial to your end users’ transactions and overall experience.
- The Remote SME: What is your employee experience strategy? By 2023, 50% of SMEs will re-organize their company structure. How are you leveraging technology to support the employee experience and maintain your company’s culture to attract and retain talent?
- The Safe SME: If you connect it, you need to protect it. By 2024 33% of SMEs will experience security breaches every 3 months. This could mean huge costs – it’s critical that organizations of all sizes secure their businesses against threats and attacks.
We’ve experienced a lot of turbulence over the past few years, but despite this, SMEs keep going strong. We wish Canadian SMEs continued success and are here to support them as they grow and evolve in the coming weeks, months, and years.
Head of Sales for SMB Solutions at Cisco Canada
Lissa Ricci is currently Head of Sales for SMB Solutions at Cisco Canada. Lissa has over 18 years experience in Tech Sales and Leadership roles, focused on Small and Medium sized businesses. Lissa is proud to be leading Cisco’s technology portfolio and GTM strategy for SMB’s across Canada, along side her passionate teams. Lissa lives with her husband and two kids in Toronto.