Small businesses are always looking for ways to close the resource gap with bigger competitors. Innovative ways are necessary in order to stay competitive and on top of the curve. The competition is tough in a range of areas from enhancing communication within the team to improving the financial abilities of the organisation. One of the ways small businesses have been able to catch up bigger players has been through technology. Therefore, the advancements in technology are the key to small business advancements. Let’s take a closer look at how.
It can save space and money
Different on-demand technologies have been at the heart of changing the workplace. It has made different business practices more efficient and standardised. For a small business, the on-demand availability of a range of systems is a big saviour in terms of money and the physical space.
Let’s examine the issue of physical space for a moment. A small business doesn’t have to take a big risk at the start by investing in an office space. They are able to just rent out a desk, room or a complete office at a reasonable cost. This can help with lowering the cost, making it easier to find an affordable spot and adjusting to the company needs. As the team grows, adjusting to this becomes much easier than if they had to sell old offices and relocate.
Furthermore, traditional space is no longer useful for many small businesses that operate on an international scale. Teams no longer have to consist of people in the same physical location. Indeed, a number of teams today have people utilising communication systems that connect them with each other. Therefore, the modern small business has benefitted from the advances of on-demand services, specifically in the office space sector.
It makes staffing more cost-effective
Technology is also helping small businesses in terms of staffing-related costs and problems. Advanced in communication have opened up the workforce to a much wider spectrum, as mentioned above. You no longer need to partner up with people that are in the same physical location as your business. Cooperation with people from all over the world is possible.
This means small businesses have access to the much wider talent pool. You don’t need to rely on fighting for the scrap in your city but you can compete for the talent without having to increase the job benefits beyond reasonable.
But there is another element to why technological advancement has helped small businesses in terms of staffing. This is to do with the nature of work, which has changed from permanent positions to freelancing. Small businesses don’t have to hire a full-time accountant and pay for a full-time salary, even though they don’t need as much work. They can simply utilise freelancers and only pay for work they need to be done. This has helped create a cost-effective staffing system for businesses that don’t have a lot of resources or the need for similar levels of labour as bigger companies.
It makes work more productive
Technological advancements have hugely helped small businesses in terms of productivity. The above two elements already show you the reason. Flexible workspace and staffing have given small businesses the tools to focus on what matters: serving their customers. Energy and resources aren’t wasted – resources flow naturally for serving the customers and creating a quality product.
The world is full of different technological tools small businesses can use to improve productivity, boost product development and enhance operational cost-effectiveness. Software solutions have become increasingly cheaper – largely down to the technological advancement that keeps pushing the prices down. Small businesses can further use services like OZCodes to cut down the cost of technology further. The resource gap between small and big business in terms of acquiring technology has dropped significantly. Because technology has become cheaper and more available, small businesses can compete with big businesses better in terms of their productivity.
It makes serving customers easier
Indeed, one of the major benefits of technological advancements has been the improved customer service option. Small businesses have not always been able to provide the same kind of quality service for its customers as big business. They simply couldn’t afford the staff nor had the technology to provide more than a single communication channel.
Since businesses don’t just have to hire permanently, but they can outsource services, customer service is something a small business can provide more readily with the help of technology. Companies can have outsourced companies take care of the customer enquiries with a fraction of the cost of staffing permanently. Not to mention the different software solutions small businesses can use. There are automated social media and emails services that can help small businesses respond immediately to customer concerns. These programs can even flag up the post important queries and prioritise which topics are dealt with first.
When it comes to business, technology has truly revolutionised the world for the better. Today’s small business is much better equipped to challenging the big businesses around it – technological advancements have been the key to small business success.