Technologically Driven Business: Future business relies heavily on technology. Instead of a medium innovation has turned into a necessity as well as competitive advantage in driving business growth. Most importantly technology will enable borderless trade, utilization of geographically spread human resource as well as tapping diverse markets. But the most important use of technology lies in decreasing cost of business operations, which is so important for small and medium business.
The Global Entrepreneur: the present entrepreneur thinks not just locally but globally. High on innovation and using internet reach the present business environment is deeply rooted in the way social application of the online media is used. Besides even traditional products is having wider reach. And these are not capital intensive.
Effortless IT management: Gone are the days when for running a software you needed a whole gamut of associated IT infrastructure, servers, Backup facilities and security tools. Software as a service allowed you to get to use the software without actually using them. And now cloud computing enables deliverance of Hardware as a service as well. This minimizes the local IT infrastructure investment as well as scalability easier to achieve. Business applications such as accounting applications, tax applications and CRM application are now preferred to be hosted.
Social media: The effectiveness of social media for brand building as well as creating new markets has been proved beyond doubts. So it’s not strange that most of the business is now having presence on the social networking sites for lead generation, job placements and researching the market trends. Social media marketing has also picked up fast.
Online Training and professional Education: Small business are now utilizing the low cost yet highly personalized, specific and low-cost online training courses and programs to help them improve productivity and employee management.