The current global pandemic has put small businesses to the test like never before. SMBs reimagine and adapt their business models to the current situations. Some had to temporarily halt their operations, while others had to shift to remote work or devise innovative ways to get their products and services to the market.
Almost every operation has made the transition, from using online video conferencing platforms to digitizing critical aspects of the business such as customer service.
And these events show how small businesses rely on technology on a daily basis to help them operate and scale globally.
Technological advances have an impact on small businesses in a variety of industries, ranging from laptop computers with Internet access to printers, online file storage, and Web-based applications.
It has the potential to affect small businesses in both positive and negative ways, depending on the goals of the business, the products used, and how well entrepreneurs and their employees adapt to new systems.
“Technology is a fantastic resource and it can help us scale globally.”
Everything we do is influenced by technology, and we all know what a life-changing experience it can be. These days, hundreds of digital transformations have taken place. So, in this article, let us enumerate how technology will help SMBs grow their business.
How technology helps small businesses grow
Learn how small businesses can leverage technology for growth.
Share and collaborate
Small businesses collaborate closely with their customers to provide them with products and services that add value to their lives.
From an idea to a finished product or service, small business owners and their employees must collaborate with one another and with outside vendors. Email and instant messaging software paved the way for online sharing and collaboration. These communication tools and platforms are valuable technological tools for small businesses because they allow them to connect instantly, share information, and receive feedback.
Build flexible working environments
Technology allows small business owners and employees to work in the office, from home, on the road, or even across the country.
And take note: the hybrid working model is here to stay. Many businesses will stick with the work-from-home model because it is cost-effective. For small and medium-sized businesses (SMBs), having employees work from home means less investment in space and resources to manage their workforce.
Also, through technology businesses gain a competitive edge in the global environment by allowing small business owners to hire and outsource talent from all over the world.
Instant connection with customers
Small business owners are no longer required to mail surveys to customers and wait weeks for responses, nor are they required to call customers for feedback. Sometimes, most customers don’t respond to calls and emails. So you don’t get your feedback.
Technology enables small businesses to communicate with their customers via email, blogs, social networks, and forums. Small business owners can take advantage of this instant connection by soliciting feedback from customers and immediately applying it to their operations, if appropriate.
Online stores to expand business
SMBs such as bakeries, clothing and accessory designers, bike shops, and more can now set up online stores instead of investing in costly storefronts thanks to advances in technology.
With consumers turning to the internet for everything from finding gifts to ordering groceries, the popularity of online shopping grows along with the variety of products and services available.
Businesses with physical storefronts can create online stores to increase their visibility and reach target markets outside of their immediate neighborhoods and surrounding communities.
Automation is a key trend for small business owners to watch out for because of its ability to save time on repetitive tasks while also providing additional assistance. But many small businesses are already using automation today to boost worker productivity and happiness, and this trend is expected to continue.
According to a 2021 study of small and medium-sized businesses, automation continues to enable workers to be more efficient and focus on tasks that only people can do. Indeed, 65 percent of workers say automation allows them to be more productive and less stressed at work.
Acceleration of digital transformation
Both consumers and business owners have recognized the convenience and numerous benefits that technology provides.
Digitization will be more than just moving into The phrase cloud computing refers to any software running on infrastructure provided by a PaaS such as Microsoft Azure, Amazon... or the online space by 2022.
You must create an environment in which employees, business partners, and customers can conduct transactions digitally without incident. Consider your entire supply chain is linked by smart technology solutions.
That is what the future has in store for us.
Employees will be kept informed
Whether your employees are fully remote or are beginning to return, it is critical that communication is clear and concise. And, with procedures and protocols changing on a daily basis, communication—particularly between remote workforces—must take place in real-time.
Cloud-based communication, messaging, and collaboration tools enable business owners to provide their employees with the most up-to-date safety and procedure information. Employees can also use these platforms to ask questions to ensure they fully understand the expectations and procedures.
You can keep your employees informed and empowered by using these technological tools.
Take advantage of technology
Regardless of the type of business, many small businesses have had to embrace a more digital business model in order to remain connected to customers in a secure manner.
Many traditional businesses have gone online to serve customers in ways they could never have imagined.
And, while restrictions may be easing in some parts of the world, there will almost certainly be a need to supplement in-person business with digital service.