The Impact of Cloud Computing in Promoting Economic Growth through SMEs in the United States

Cloud Computing, being one of the most recent innovative developments of the IT world, has been instrumental not just to the success of SMEs but, through their productivity and innovative contribution to the economy, has even made a remarkable contribution to the economic growth of the United States. To this end, the study focuses on how cloud computing technology has impacted economic growth through SMEs in the United States. Relevant literature connected to the variables of interest in this study was reviewed, and secondary data was generated and utilized in the analysis section of this paper. The findings of this paper revealed that there have been meaningful contributions that the usage of virtualization has made in the commercial dealings of small firms in the United States, and this has also been reflected in the economic growth of the country. This paper further revealed that as important as cloud-based software is, some SMEs are still skeptical about how it can help improve their business and increase their bottom line and hence have failed to adopt it. Apart from the SMEs, some notable large firms in different industries, including information and educational services, have adopted cloud computing technology and hence contributed to the economic growth of the United States. Lastly, findings from our inferential statistics revealed that no discernible change has occurred in innovation between small and big businesses in the adoption of cloud computing. Both categories of businesses adopt cloud computing in the same way, and their contribution to the American economy has no significant difference in the usage of virtualization.