Impact of Technology on Small Businesses

1. Impact of Technology on Small Businesses

2. Within a short span of time, social, mobile, analytics and cloud (SMAC) have completely changed the way small businesses promote and sell their products or services. The widely used cloud models enable enterprises to avail on-demand computing resources over the internet without setting up expensive IT infrastructure. At the same time, the small businesses can implement bring your own device (BYOD) policy to make employees productive without providing expensive devices and equipment. Small businesses can meet working capital needs in a faster and more flexible way through a number of technology-driven loans. Assessing the impact of technology on small businesses is very important. Broadly it is positive, but differs across regions and sectors.

3. Assessing the Impact of Technology on Small Businesses R Re ed duc ucing ing I In nf fr rast astru ructur cture e De Dev ve el lop opm ment ent a an nd d M Ma ai inte ntenanc nance e C Co ost st Often small business owners have to spend a most of their capital on setting up an IT infrastructure. But most entrepreneurs lack adequate resources to build and maintain a robust IT infrastructure. The cloud platforms and cloud-based services enable entrepreneurs to set up, run, and expand businesses seamlessly without investing in expensive hardware, software, equipment and devices. Many small businesses even leverage cloud technologies to enable employees to access business data and work remotely.

4. M Ma ak ki ing A large percentage of modern professionals want to work in a comfortable and flexible environment. Many employees even explore ways to maintain work-life balance through flexible working hours. The latest digital technologies enable small enterprises to make employees work in a distributed and personalized environment. The entrepreneurs can implement BYOD policy to allow employees to bring and use their own devices for professional purposes. At the same time, they can allow employees to stay connected with their teammates despite working from home. The enterprise can further improve employee productivity by automating various business processes and operations. ng Em Emp plo loyees yees P Pr ro od ductive uctive

5. D Dr riv iving The brick-and-mortar stores require entrepreneurs to incur additional capital expenditure. Also, the small business owners have to deploy additional resources to sell their products through conventional retail store or outlets. But an enterprise can easily drive its sales through eCommerce and mobile commerce without setting up and managing brick-and-mortar stores. Entrepreneurs can opt for custom eCommerce application development to sell products to customers from various regions. The frameworks and tools even make it easier for small business owners to set up and manage web stores and mobile stores. ing Sa Sale les s t th hr roug ough h W We eb bs sites ites and and M Mo ob bi ile le Apps Apps

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