How Technology Has Affected Small Businesses

Gone are those days when small business owners had to carry the whole lot of work they had to do by themselves. Today, technology works hand in glove with businesses and has an impact on the rate at which small businesses grow. Small businesses rely on technology to help them operate on a daily basis. It has positive impacts on small businesses and may have negative impacts as well depending on the goals of the business, how entrepreneurs and their employees adapt to new technologies, and the products and services they choose to offer.

Technology has permitted small business owners to work closely with their clients and receive feedback immediately without having to call or mail surveys to customers and wait for days for replies as it was done in the past. With technology, entrepreneurs have the ability to connect with their customers through blogs, instant messaging tools, forums, and electronic mails. It has paved the way for online sharing and collaboration with customers which helps small businesses provide their clients with products and services that add value to their lifestyles.

With the advent of new technologies, entrepreneurs now have the ability to instantly connect, share information and get feedback in seconds. As such, entrepreneurs are able to enhance customers’ experience, provide better services and products for them, inform themselves on every thing the customers want, and improve on their products and services as per the desires of their clients.

Small businesses also have the ability to gain a competitive edge in the global environment thanks to technologies. It has provided a flexible environment for entrepreneurs and their employees. With a smart device, small business owners can choose where to work; they can either work in their offices, in their homes and they can even travel while working without affecting their businesses. Technology has enabled small business owners to know their competitors and outstand their businesses from others in the global market.

They have the ability to employ skilled staff from all over the world and make their businesses reach a worldwide audience. As they implement new technologies in their daily activities, they have to train the staff to keep them updated; they have to provide training to new employees who may be used to technologies and provide more training to older ones who may not be familiar with technology.

Technology offers the opportunity for entrepreneurs who have products to offer to settle online stores. Setting an online store will be beneficial for such entrepreneurs rather than spending money to settle a storefront that will be limited to their neighbourhood and surrounding areas. With online stores, their businesses will reach a wider audience since everyone has the tendency to buy online today. Businesses with storefronts can also settle online stores to expand their visibility and reach a target markets worldwide.

When analysing the effects of technology on small businesses, it is also important to note how technology has given room for small businesses to gain more visibility, more customers and outstand competition in the global market. All businesses still need to analyse their social media marketing strategy to understand whether or not they effectively use technologies for their upkeep. For more information, click here