The Conservative Government has promised a whopping £740million investment in technology to support businesses in the ‘cities of the future’.
IT has many benefits for businesses, helping them with admin, flexible working, easy accounting, promotion and, specifically for shops, offering deals tailored to the customer. Email newsletters, Facebook pages, Twitter competitions and hashtags — they are all great ways of shouting about your service and making sure those all-important new leads can find you.
The British Retail Consortium, Google and O2 among the firms have created a five-year plan to digitally “reinvigorate UK high streets” while calling on the government to support the movement.
During the Budget speech, Mr Osborne said: “We’re also committing almost £140 million to world class research across the UK into the infrastructure and cities of the future, and giving our national research institutes new budget freedoms,” he said. “And we’ll invest in what is known as the Internet of Things.This is the next stage of the information revolution, connecting up everything from urban transport to medical devices to household appliances. So should — to use a ridiculous example — someone have two kitchens, they will be able to control both fridges from the same mobile phone.”
He also promised £40million for demonstrator programmes, business incubator space and a research hub to develop apps.