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new technology impacting small business

4 Ways New Technology is Changing Small Business

New technology has changed many aspects of the way small businesses operate.

One thing is for sure; the rapid advancement of technology is not going to slow any time soon.

Those businesses who choose to keep up with and embrace current technology will reap the rewards of this, while those who fail to adapt will be left behind. So here are 4 ways new technology is changing small business.

The Rise of Mobile

More and more people are using mobile devices to shop, find local businesses and share their retail experiences on social media.

Cisco, an American – based technology company has released some insights into how people are currently using the Internet and some predictions for the future. The results of their study show that desktop computers are losing their market dominance, currently sitting at 71% of Internet Protocol (IP) traffic, with trends suggesting that by 2020, PCs will consist of only 50% of total IP traffic.

This means that businesses will need to have an online presence that isn’t just compatible with desktop Internet browsers, but with other devices such as smartphones and tablets. Google has actually revamped its algorithms in recent times to prioritise websites that cater to seamless web browsing on devices, so it pays to get your site up to date.

Cloud Technology 

Cloud technology is changing everything. It allows for rapid expansion, mobility, collaboration as well as eliminating the fear of computer crashes and permanently lost data. There are so many online tools for small business, from Google Drive for productivity and collaboration. One of the best things about cloud technology is that it allows small businesses access to resources that in the past would have been too expensive and evens out the playing field.

Working on the Move

With smart devices becoming more affordable and more widely available, business owners and employees will be as productive as ever, whether they are in the office or out in the field. So many aspects of business such as invoicing and customer relations can be handled remotely, which will make flexible work soon become the norm.

Connect and Collaborate

Technology has increased the ease with which we can connect with one another, and this is especially beneficial for businesses. Whether it is joining a conference call via Skype or using OneNote to co-author or edit documents with other collaborators, it is now far easier to work with a team in a different state or country.  This means that all the pieces of a business can work together and fit together far more seamlessly than they have in the past.

This article first appeared on Cashflow Manager Australia website.

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