Technology saves us time, labor, and energy and increases the security of anything, including your business. The dependence on technology is so irresistible and consequent that some who do not have not much idea about the implementation also can't ignore it. So as an entrepreneur, Businesses need technological support to keep their work up to date.
So, how can one describe the colossal impact of technology on the way businesses are conducted and the most satisfying outcome it delivers?
Technology is now the vertebra for Small Businesses.
The previous two decades have been an era of storming technology, embarking business growth on unbelievable success. We live in the future, and with the every-moment advancement in the virtual world of computers and the Internet, laptops, smartphones, small businesses emerged as significant contributors to the economy compared to the past.
Technology has rocket-fueled day-to-day business manoeuvres and scheduled pieces of works that affect an enterprise's culture, relationships, and efficiency. It has boosted the security of small businesses by offering secure, confidential information and trade advantages. Below are the benefits of new technology to small businesses. Technology has a significant impact on us enormously, and it is transforming the global economy in terms of ways of doing business.
Technology has a massive impact on most industries, and usage of these technologies is restructuring the business models of firms and enterprises. The correct implementation of technology for businesses can lead enterprises to touch sky-high successes.
Adapt Technology for Your Business Growth
Technology brings the vast market within your reach domestically and internationally, enhancing SMEs' efficiency and reducing costs. SME sector is the backbone for any economy in terms of revenue generation and employment creation which benefits the overall growth and development.
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Job Creation: Startups Starting Up!
Do startups create jobs? This could unarguably be one of the most sought after questions in recent times. While it is out and clear that startups make way for employment opportunities, the discussion boils down to the importance of startups in creating jobs. The startup ecosystem indeed plays a major role in job creation and is touted as an economic panacea.
Importance Of Technology For SMEs
We, humans, by nature, tend to be lazy. We always try to make tools, machines, gadgets, etc., to save us time and energy and give us satisfactory results. Technology is the charisma that kept changing our way of living and our style of doing things drastically. Our way of conducting business is also not spared by the Tsunami of technology.
Importance Of Digital Economy
Economic activities that result from billions of interactions between individuals, businesses, data, devices, and processes constitute a digital economy and India is well on its path to becoming a digitally advanced economy. Driven by cheap data cost, faster connectivity, and affordable smartphones, India had over 1,160 million internet subscribers in February 2020, as per the Telecom Regulatory authority of India (TRAI), second only to China.
India's Economic Growth – Can The Startups Redefine?
Recent years showed a considerable rise in the startups of India. During globalization, MNCs or Multi-National Companies had a massive role in India’s economic growth. Now, it seems that startups are revolutionizing the Indian economy. These startups are amplifying the revenue generation and enriching the GDP.
ENTREPRENEURSHIP EDUCATION FOR BUDDING MINDS
In the present economic situation, having knowledge of an academic subject is no longer sufficient for a new graduate. Students are increasingly required to have skills and abilities which will increase their employability, such as: the retrieval and handling of information; communication and presentation; planning and problem solving; and social development and interaction.
CHALLENGES OF ENTREPRENEURSHIP DEVELOPMENT IN INDIA
The Economic survey in 2019-20 using World Bank’s data on entrepreneurship stated that India ranks third in the number of new firms created. However, India ranks significantly lower in terms of intensity when compared with countries like UK and US.
HOW INNOVATION PLAYS AN IMPORTANT ROLE IN THE PERFORMANCE OF SMEs? WHAT ARE SOME INNOVATION FACTORS TO FOLLOW?
Innovation in a business must respect the business strategy in terms of the SME's long-term missions, visions, and goals and is systematic implementation procedures and changes to improve the products and services your company offers. The innovation implementation ensures an appropriate response in terms of increased sales and enhanced customer satisfaction. The image strengthening of your firm will lead to better customer relations with your company and at the same time provide financial stability for the company.
ECONOMIC REFORMS THAT CAN CHANGE THE ENTREPRENEURIAL ECOSYSTEM
The year 2021 marked 30 years since economic liberalisation surfaced in India and writing on this occasion, the richest man of India; Mukesh Ambani said that bold economic reforms such as ending the license –quota raj, liberalisation of trade and industrial policies, freeing up capital markets and financial sector helped our GDP grow ten folds since 1991 and India transformed from an economy of scarcity in 1991 to an economy of sufficiency in 2021.
ROLE OF WOMEN ENTREPRENEURS IN INDIA – THEN AND NOW
As per the 2019-20 annual report of the MSME ministry, among 63.3 million MSMEs that India has, women–owned 20.4% of them up from 13.72 % in 2013-14. This data supports the fact that there has been growing acceptance of women in entrepreneurial roles but it hasn’t always been the case.
TECHNOLOGY AN ENABLER FOR SMALL BUSINESSES
Today times are such that firms operate in a dynamic environment and they must act dynamically too, at least firms should keep an eye on obsolete processes and technologies and replace them with updated versions to stay competitively ahead.
Cognizant Ceo Discusses Fierce Battle for Technology Talent
Digital services have become more important than ever since the pandemic began in early 2020, and that’s meant big business for major technology companies.
What we're raving about this month
China Limits Children To 3 Hours Of Online Gaming A Week
China is banning children from playing online games for more than three hours a week, the harshest restriction so far on the game industry as Chinese regulators continue cracking down on the technology sector.
APPLE'S iPHONE PRIVACY CLAMPDOWN ARRIVES AFTER 7-MONTH DELAY
Apple is following through on its pledge to crack down on Facebook and other snoopy apps that secretly shadow people on their iPhones in order to target more advertising at users.
WEATHER CHANNEL APP TO CHANGE PRACTICES AFTER LA LAWSUIT
The operator of The Weather Channel mobile app has agreed to change how it informs users about its location-tracking practices and sale of personal data as part of a settlement with the Los Angeles city attorney’s office, officials.
Inside Apple's Next Big Thing
Mike Rockwell’s team is developing superpowerful headsets blending AR and VR
Utah School Software Will Send Alerts About Student Accounts
A Utah school district adopted computer software that alerts administrators and parents to activity in student Google accounts that may raise concerns.
Ex-Google Self-Driving Car Project Picks Up New Investors
Google’s former autonomous vehicle project is becoming a more autonomous business by bringing it in its first investors besides its corporate parent.
5 Amazon Echo Security Features, Tested
From monitoring the weather to controlling your smart home, Amazon Echo has hundreds of different skills.
Tech To Make Guests Feel At Home, Part Two
In my last column, I discussed the generational improvements my custom installation company has witnessed since we started installing whole-house distributed audio systems back in 1995. Of course, almost everything has gotten better—and cheaper—over time, but one thing often overlooked in modern installations is operational simplicity for the guests who visit your home.