Technology Changes Small Businesses

Back in 18th century, there was no one knows what is Google, Youtube or Twitter. They do not even exist. Perhaps, no one is using the internet. However people can still do business and be successful. For instance, the famous toothpaste brand Colgate. It is still in the market.

Now, with the help of internet and latest technology, business can make names and grow its name instantly. Internet is a platform that allows small businesses to start small with minimum capital. Technology helps small businesses to survive and break all the barriers to survive globally. Below are some of the changes of technology that affect small business:

1. Communication

Traditionally, employers communicate with employees, customers contact with organizations via external mailers and telegram. The reality is, this type of communication is very expensive, obsolete, slow and also such a cumbersome.

Thanks to the inventors for inventing email, WhatsApp and many more applications which make communication between people easier and more simplified now and most importantly, it’s free. Now you can reach billions of people , prospects, hundreds and thousands of employees within minutes.

2. Location Independence

Internet makes everything barrier-less. You are no longer tied to a single location. You can be anywhere and still do business. You can share and collaborate with teams around the globe. With internet, you can even work from home.

You do not have to have large amount of capital to rent or buy a building for your own company. Online based is more than enough. Internet technology allows you to telecommute from home, if you desire. Now, startups do not have to worry about rental fee.

3. Increase Number of Customers

Advertisements can attract more customers and before the internet becomes so famous, businesses do the old fashioned ad such as fliers and direct marketing. Advertisements are so expensive back then but now with the presence of social media, advertisement can be free. Yes! It is possible.

It is easy to find prospects and customers too on SEO and social media. Businesses just need to invest more time and efforts on doing the advert and attracting customers on social media. This type of outreach also lends itself to real-time analytics. With detailed reporting, you can segment your customers and gauge the effectiveness of each marketing campaign.

4. Increase Sales

Startups usually have to process payments manually by mail or over the phone. The store and transactions have to be managed however with the aid of e-Commerce, it is possible to generate sales all the time-24 hours even at night.

Your customers can be from all the countries in the world. You can sell to them and make sure you provide a PCI compliant payment processing to convince them that they are secure when making payments.

To find out more about payment gateway for your business, contact Razer Merchant Services. We are very happy to assist you.