2014
Home > News

Tech sector willing to accept moderate government involvement

Tech sector willing to accept moderate government involvement. Published: 10/31/2012

The government is supposed to serve as the crutch owners at small tech companies can lean on when they need a source of innovation or additional funding to help their business continue to prosper. Keeping the government involved in the industry can lead to many good things that can allow tech companies with only a few employees to prosper. 

Recent results from a Technology Councils of North America and nonprofit IT organization CompTIA will come as a surprise to few as 66 percent of top technology and business executives said they prefer that government have some role in promoting innovation and growth in the tech sector.

"With federal, state and local elections on the horizon, it is critical that all the candidates sit up and take notice: businesses want our government to take a modest but constructive role, such as opening the door to new sources of capital, so that private tech firms can innovate and succeed," said Tino Mantella, president of TECNA. 

Tech firms ready to expand, but can the economy handle it
Growth is important to small tech firms that want to expand their customer base and become a company that can service the needs of many different clients. In fact, 59 percent of respondents said they are interested in increasing staffing levels, and 52 percent want to add to their technology spending.

"Lawmakers should also note that, although many executives feel confident in their own businesses ability to succeed, they are quite concerned about the state of the economy overall," said Mantella.

While growth is certainly a goal, 53 percent are concerned with the current status of the economic recovery. A small business insurance policy is vital for firm owners who are planning to, either currently or in the future, to make investments that could open up their business for risks.

Opinion on government influences government involvement
A trend in the survey worth noticing that a respondent's view of the economy had a direct correlation for the government's role in the tech sector. Firms ready for expansion were more willing to seek help from the government.

"It's not surprising that executives who feel the economy is improving took a moderate view on government involved in business while those who take a negative view of our economic climate favor a low level of government involvement," said Mantella.

Start Coverage Now!


Can't find your Industry?

WHY
TechInsurance?

Learn why thousands of IT businesses trust TechInsurance as their insurance agency.

Take 15 minutes to see how we can help you protect your business.

  • FREE, no-obligation quotes.
  • Complete one online application to compare multiple quotes.
  • Fast response—typically less than 24 hours on week days.
  • We are a nationwide insurance agency covering 48 states.
  • We work directly with you to evaluate your insurance options.
  • We only work with the top business insurance carriers in the country.
  • Expert, licensed insurance agents to guide you through the process.