HP study affirms: Smarter, secure tech is key for microbusinesses

HP has revealed 56% of millennials (27 to 42-year-olds) and 55% of Gen X (43 to 58-year-olds) strongly believe that adopting technology for business is a smart choice for the future. But findings from the HP Smart Where IT Matters Study , show a generational gap is apparent, as Gen Z microbusiness owners now sit alongside baby boomers in displaying high levels of doubt and resistance to technology adoption in the Asian markets of Indonesia, Malaysia, Thailand, and the Philippines.

Across the region, 77% of microbusinesses view technology as critical in helping mitigate business challenges. Countering this positive technology sentiment are the 69% of baby boomers (59 years and above) who see no clear benefit or return from investing in technology. Surprisingly, 57% of digital-native Gen Z (19 to 26-year-olds) also share similar doubts on the benefits of technology investments.

Similar to their regional counterparts, almost 60% of Gen Z and 71% of baby boomers in the Philippines are skeptical of investing in technology for their businesses. Additionally, only 36% of Gen Z and 22% of Gen X have a strong belief that technology is one of the key solutions to mitigating business challenges. Meanwhile, over 50% of millennials expressed a strong belief in technology’s relevance in business, with 66% agreeing that adopting technology for business is a smart choice for the future.

The study conducted by research firm Kantar and commissioned by HP, surveyed approximately 1,200 microbusiness owners to explore the dynamics of technology adoption in Southeast Asia.

The study findings suggest that for microbusinesses to thrive in the digital age, Gen X and Millennials must take the lead to dispel lingering technology fear uncertainty and doubt. Over 70% of all microbusinesses fear the complexity and security of new emerging technologies, which highlights the prevailing challenge that business owners face when considering new investments.

“HP recognizes the vital importance of thriving microbusinesses to the growth of Philippines’ economy. Microbusiness owners want to beat the competition, grow customers and revenue, be moreefficient with time and money, so technology cannot be