In the past years, small to medium-sized businesses have begun expanding their IT budgets because of the growing popularity of tablets and cloud computing services, according to recent research compiled by social business network Spiceworks.

The increased IT budgets, which have now grown to average $152,000, are allowing for more technology purchases. The survey found 62 percent of SMBs plan to deploy or are currently using tablets in the workplace, while the two biggest planned IT services are web hosting and internet service providers. These devices and services aren't cheap, and will require that SMBs interested in upgrading their tech have clear financial forecasting plans in place.

"The results also show that SMBs are spending more on technology across the board, from hardware and devices, to cloud services and virtualization," said Jay Hallberg, co-founder and vice president of Marketing for Spiceworks. "This bodes well for technology vendors serving the SMB market in 2012."

The survey reported 30 percent of respondents plan to bring on new IT staff in the next six months, and 56 percent will retain their current number of staff members.

Purchasing new IT products is essential for businesses that want to stay competitive in their industry, and requires smart and effective business budgeting strategies. Without an efficient and realistic budget, businesses may not be able to sustain long-term growth.