Global technology leader HP in its recent HP Smart Where IT Matters Study found that 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 the study also revealed an apparent generational gap where 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 Malaysia, Indonesia, Thailand, and the Philippines. The study, commissioned by HP and conducted by research firm Kantar, surveyed approximately 1,200 microbusiness owners to explore the dynamics of technology adoption in Southeast Asia.
Across the region, 77% of microbusinesses view technology as critical in helping mitigate business challenges. In Malaysia, 52% of millennials see technology adoption as a customary to success, and 57% of Gen X view it as crucial for securing their future business endeavours. However, this enthusiasm for technology is met with scepticism within certain demographic groups.
Regionally, 69% of baby boomers (59 years and above) see no clear benefit or return from investing in technology and 57% of Gen Z (19 to 26-year-olds) expressing similar doubts on the benefits of technology investments.
Mirroring this pattern, 70% of baby boomers and 58% of Gen Z in Malaysia, echo this sentiment. Surprisingly, 42% of local Gen X indicate concern about cost factors in their technology expenditures. They highlight issues related to increased competition, growing costs, and difficult cash flow situations as contributing factors to their concerns.
“HP recognises the vital importance of thriving microbusinesses to the growth of Malaysia’s economy. Microbusiness owners want to beat the competition, grow customers and revenue, be more efficient with time and money, so technology cannot be complex and intimidating. Technology simply has to work, be seamless, secure, and today it must also be sustainable,” said Alex Tan, Managing Director of HP Inc, Malaysia.
Simple and Smart Overcome Fear and Doubt
According to the study’s findings, for microbusinesses to survive in the digital age, Gen X and Millennials must take the lead in eliminating remaining technology fear, uncertainty, and doubt. More than 70% of all microbusinesses are concerned about the complexity and security of new developing technologies, highlighting the common difficulty that business owners confront when considering new investments.
While doubts remain, they have not stopped microbusinesses making the most of technology where the ROI has been clear and obvious. One key finding showed that 85% of microbusinesses in the region use smartphones and tablets to run their business, with 59% using printers for business.
In Malaysia, microbusinesses see a printer as both convenient and cost-effective solution with 55% prioritizing its capability to scan documents and instantly share them on the cloud for enhanced convenience. 49% of business owners highly value the ability to print and scan directly from mobile devices while 47% emphasize the importance of printing speed, which helps boost workflow efficiency.