5 Technology-Driven Trends Benefiting Small Businesses

More and more people are interested in starting their own businesses these days. Ever since the recession hit, new grads decided to start their own companies rather than wait for some company to give them a job. However, many older Americans are also more likely to start a new business. Technology has been a reoccurring factor in the success of these startups. Below are five technology-driven trends that will continue to shape and determine the success of small businesses and the entrepreneurs who lead them:

Business of one. The majority of small businesses are operated by a single person. Advances in technology will only accelerate the trend of single workforce companies. This will allow those specialized employees and shareholders to work on projects anywhere at any time.

Global outreach. Technology will allow small businesses to tap into markets that cross borders and language barriers. Products and services will be available to anyone at anytime because of the Web. Marketing will also change as businesses aim to reach new customers from different cultures.

Ubiquitous, disruptive computing. Cloud computing and mobile technology will make operational business processes more easily available and affordable.

Collaborative crowdsourcing.  Blogs, Twitter, Facebook and other forms of open communication allow customers to respond directly to businesses. In doing so, businesses are able to collaborate with customers as to how products and services are created, delivered and consumed.

Sustainability. This can mean much more than just going “green.” Businesses can adopt sustainable practices simply by improving the efficiency of time, labor, operations and knowledge-sharing. Technology will be a key factor in those improvements.

For more information on how small businesses can benefit from these new technology-driven trends, please visit Independent Banker.