Small and medium-sized enterprises (SMEs) could thrive by keeping their costs to a minimum, an expert has asserted, highlighting the benefits of IT outsourcing.

Julie Meyer, star of BBC’s Dragons’ Den Online, claims that the current market conditions are restricting the amount of expensive technology that companies can buy, which could see more firms moving these functions to external providers.

She says that many entrepreneurs need to set up their businesses using their own money and must exercise discipline in keeping costs to an absolute minimum.

“One of the advantages of being an entrepreneur is being able to start small and operate in a lean operating model and to move fast,” she asserts.

Ms Meyer also emphasises the importance of speed to businesses using this model, which also highlights the benefits of using a scalable IT outsourcing solution.

The Prince’s Trust recently conducted research that found one in four young people would be more confident in starting up their own business today than they would have been a few months ago, which suggests the number of new firms requiring IT outsourcing solutions could be on the rise.