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Takeaway: Smaller companies often cut corners on tech purchases — a practice that can wind up costing them more in the long run.
Small and medium-size businesses (SMBs) are notorious for not spending. This is especially true with the smaller companies. Many SMBs try to spend money only when necessary, which can result in loss of data, work, or worse. To avoid disasters or the inability to grow and function as needed, SMBs need to bite the bullet and make some purchases. As the old saying goes, “You can’t make money if you don’t spend money.”