According to the SurePayroll Small Business Index, "technology, not new employees, is driving growth for small businesses across the country." Respondents shared that they are doing more business on the Internet and growing their businesses through the use of new technology. Michael Alter, chief executive and president of SurePayroll, explains, "Technology is enabling them to be more productive and allowing them to grow revenues without have to add employees." In the long term, the money saved combined with the increase in revenue can add up. Unfortunately this does not help those who are searching for jobs. Small business hiring has seen a slight decrease throughout the country, except in the South, according to the survey.
While the Internet has existed for quite a while now, recently more small businesses are taking advantage of what it has to offer. More companies are establishing websites to promote and increase their business and revenue. Ecommerce is on the rise. Companies used to have to hire professionals to design websites for them, but with advancing technology, there are more tools and resources that allow them to do it on their own. Creating an ecommerce store has become easier and more affordable for business owners. Alter notes, "Businesses can build a really sophisticated ecommerce website for very little money on a pay-as-you-go basis. Those things came around in the last 18 months." This gives more small businesses the opportunity to sell their products and services on the Internet without having to pay high costs to make it possible.
Business owners are not just using technology for ecommerce, however. They are also using it to reach a wider range of customers and build better relationships. According to a survey, "54 percent of small business owners are using their smartphones for instant communications during the sales process, while 42 percent are using online advertising and 34 percent are using online tools for presentations." Technology is changing the way they are doing business and engaging with the public. Utilization of cloud technology has also decreased the spending by small businesses because they no longer have to store or maintain as many hardware and software applications. Their businesses are requiring fewer IT staff to meet technology needs. Alter believes that these technology trends are here to stay and small businesses will continue to take advantage of them for growth.
"Innovative technology has changed the face of business," says Richard Bracchi. "More small businesses are embracing the options available to help them grow their company while still keeping costs manageable. There is still a need for employees, but more services are becoming based on the Internet." Richard Bracchi helps business owners to effectively integrate technology into their practices.
ABOUT:
Richard Bracchi is an experienced computer programmer and consultant. He is a graduate of the executive program at Singular University where he learned how to more effectively help businesses understand the importance and impact of technology on their industry. He works to combine technology, entrepreneurship, and science in a way that will benefit business owners. Areas of focus include: nanotechnology, medicine and neuroscience, AI and robotics, biotechnology and bioinformatics, energy and environmental systems, and networks and computing systems.
| < Prev | Next > |
|---|
