Lack of tech expertise is holding back business in Australia.

That was the key finding of a recent report by Venture Insights and Optuspt, revealing that while over 40 percent of small and medium-sized businesses believe that adopting smart technology will have the biggest impact on their business over the next few years, 31 percent are struggling to keep pace with technology changes.

Alarmingly 40 percent also admitted that they were not actively protecting their business from cyber attacks…with 13 reporting that their business had been a victim of an attack.

Some of the other findings from the report include;

• 39 per cent of SMBs need greater internal skills and training to keep up with technology
• 40 per cent admitted they are not actively protecting their business from cyber-attacks
• 62 per cent of SMBs believe the arrival of 5G will be important to their business