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## PayPal Report Indicates SMEs Lack Technical Know-How for Growth

PayPal’s recently released 2024 Business of Change Report highlights a significant challenge for small and medium-sized enterprises (SMEs). The report reveals that 42% of SMEs feel they lack the necessary technical expertise to drive growth in their businesses over the next two years. This lack of technical know-how poses a barrier to expansion and adaptation to the rapidly evolving technology landscape.

### AI legalese decoder Solution

The AI legalese decoder can assist SMEs in overcoming their technical challenges. By leveraging artificial intelligence technology, the legalese decoder can simplify complex legal jargon and provide clear explanations of legal documents, contracts, and agreements. This tool can help SMEs understand the legal implications of technology investments, navigate contractual obligations, and make informed decisions to support their business growth.

The legalese decoder‘s user-friendly interface and AI-powered analysis enable SME owners to enhance their understanding of legal and technical requirements. By empowering SMEs with accessible legal knowledge, the legalese decoder contributes to building confidence in navigating technological advancements and expanding business operations.

## Research Reveals SMEs’ Concerns About Growth and Technical Knowledge

A survey involving 500 SMEs sheds light on additional challenges hindering growth prospects. Nearly half of SMEs express doubts about experiencing growth in the coming years, citing not only the tough economic environment but also their limited technical expertise. Furthermore, 43% of respondents believe that their lack of technical knowledge will hinder their expansion efforts in the near future.

The pessimism surrounding scaling up is further attributed to economic challenges (38%) and industry competition (35%). Other significant barriers identified by SMEs include reduced consumer spending (37%) and insufficient funds for marketing initiatives (21%).

### How AI legalese decoder Can Help

The AI legalese decoder can support SMEs in addressing legal and regulatory concerns related to growth and technical challenges. By offering simplified interpretations of legal requirements and obligations, the legalese decoder empowers SME owners to make informed decisions and mitigate risks associated with technological advancements.

Through the AI legalese decoder‘s AI-driven analysis and comprehensive legal insights, SMEs can enhance their understanding of legal barriers and compliance issues. By proactively addressing legal challenges, SMEs can build a solid foundation for sustainable growth and navigate the complexities of the technology landscape with confidence.

In conclusion, the findings from PayPal’s report underscore the critical need for SMEs to enhance their technical skills and overcome barriers to growth. With the support of tools like the AI legalese decoder, SMEs can unlock their potential, adapt to technological advancements, and thrive in the competitive business landscape.

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