Why should small businesses never overlook technology?

Gone are those days when many business ideas used to die just because of lack of funds or the obstacles that come along in opening a business. We are living in an era where you can run a business completely online and this is what has made the number of small businesses from all over the world to rise at a very fast speed. You will be surprised to know that only in the U.S, there are more than 30.7 million small businesses and this number is increasing at a very fast speed. Even in developing countries like India, small businesses are contributing at a very high speed to the GDP of the country.

But just because starting a small business has become easy, it doesn’t mean that even running a small business has become easy There are many challenges that the modern-day small businesses have to deal with and this is why not all the small businesses out there are not able to make it even to their 2nd year of the business lifecycle.

With so much competition in every industry, you just can’t afford to ignore technology and this is what we are going to discuss in this blog post.

Because it’s cost-effective

If you are ignoring technological solutions like QuickBooks hosting on the cloud just because you think that it will be out of your budget then you are completely wrong. There surely used to be a time when small businesses couldn’t afford to use a technological solution since it was too costly but with time, this trend has completely changed. You will be surprised to know that there are many technological solutions out there that can easily fit in your budget and you will be able to make the most of it.

For example, if you will opt for cloud based QuickBooks then you will pay only $30 or maybe less than that. With time, technological solutions have become mature and when a technological solution stays in the market for too long, there is no way it can stay expensive and thus it becomes available for small businesses.

Because it promotes remote work

If you are running a small business then there are maximum chances that you must not be having a big office where you can keep all your employees under one roof. Well, this might act as an obstacle in the growth of your small business since, without collaboration, you will never be able to make the most of your employees. And the only way you can deal with this type of issue is through technology.

There are many technological solutions out there that can be used in order to enhance the collaboration of your remote employees and make them work like they are sitting under one roof. One such technology is cloud computing. In the modern era, small businesses are heavily relying on solutions like cloud computing in order to make remote working a possibility in their firm. There is no way you can make a person sitting in Australia to work with a person in India like a team without the use of cloud computing.

Because it offers better customer service

It doesn’t matter which type of product you are offering or which type of industry you are dealing in, the one thing that you will have to focus on is providing the best customer service. In the modern era, customers are looking more for a better shopping experience than just good products and if you will start using technological solutions then you will be able to fulfill this need of the modern-day customers.

You can take the example of chatbots that are based on AI. By using chatbots, a small business can stay 24/7 available for its customers and they will be able to save money as well because there will be no need to make a real person sit behind phones or computers.

Because it gives a competitive advantage

Small businesses have to deal with the fierce competition since every industry out there has become highly competitive and this is why instead of working hard you will have to work smartly as well. In the modern era, gaining a competitive advantage has become very crucial for the success of your business and if you will start using technological solutions then there are maximum chances that you will gain a competitive advantage in your industry.

For example, if you will use machine learning to provide personalized suggestions to your customers then you will be able to provide a unique shopping experience that no other player in your industry will be offering and this will give you a competitive edge over others. This is why you should never overlook technological solutions and go for it without any second thoughts.