In the SWC Technology Partners survey, just 3.7% of respondents said that their company has adopted a cloud solution for the whole company. 54.2% of respondents indicate that their company is not pursuing any cloud computing initiative. Privacy and security (20.9%) are stated to be the of greatest concern when considering cloud, followed by cost (9.8%).

Elliott Baretz, vice president of SWC, said: "The technology industry can be rife with hype. Most reasons for eschewing the cloud have nothing to do with technology. Privacy and compliance and legal issues are what are keeping businesses on the sidelines."