Small businesses can rest assured that, despite their smaller budgets and the inconsistent economy, they can still compete with larger companies with a growing technology called cloud computing.

According to a recent Cloud Tweaks report, the cloud offers small businesses many benefits, including its price-per-user model, which allows companies to pay for service and space based on their needs.

Additionally, small businesses can take advantage of the technology’s enterprise-level services, products, and security at significantly lower prices, the report stated. Setting up a cloud server is also an easy process, as cloud service providers take care of setup and maintenance.

“Applications are more scalable, more secure and more reliable as you don’t need a copy of an app for every department using it, just one app which is resilient enough for everyone to customize for their own specific wants,” said the Cloud Tweaks report.

As more businesses turn to cloud computing for its array of benefits, spending for the technology is on the rise, including among small- and medium-sized businesses. According to a study by research firm In-Stat, cloud budgets for SMBs are projected to grow from $2.5 billion in 2010 to $6.6 billion in 2015.