Why It's the Perfect Time to Start Your Small Business
The thriving small business environment
The age of the small business has begun.
Developments in technology, the economy, and resources available make this the perfect time to start your small business.
A recent report conducted by Intuit revealed that small businesses are thriving, and that the small business economy is on the verge of rapid growth in the next ten years. In fact, small businesses are expected to grow "from 30 million in 2016 to over 42 million in 2026."
The report went on to outline five trends that will "give small businesses a competitive edge over the next decade."
World-class business infrastructure
Small businesses can now utilize the technology and infrastructure that once took years to build in a big company. Today, in seconds and for a low price, you can build a small business on your computer. Manufacturing and distributing are easier than ever with services like Amazon. Robert wrote a whole series of posts about building your business with Amazon. Starting your business just got a whole lot easier.
We live in the Information Age, where enormous quantities of data are produced every day. In fact, "90% of the world's data was created in the past two years."
Collecting and analyzing this data is faster than ever. With this information, you can gain deeper insights to your customers, the market, and your own business. Small businesses can take advantage of the data revolution and use it to their advantage.
Growing pool of on-demand talent
Platforms like Fiverr and Upwork make finding the right people to do the job simple and fast. Your small business doesn't have to hire an office full of employees. At least not right away. Outsourcing to on-demand workers is cheap and easy and allows you to avoid the complications that come with hiring full time employees.
This levels the playing field with big businesses, as small businesses now have access to the people they need at lower costs.
Online market places
Consumers are demanding more and more niche products, and small businesses are poised to deliver. With online market places like Amazon and Etsy, you can sell to a specific market without having to leave your home.
Online market places also allow businesses to reach customers on the other side of the globe, building an international business with one click.
Cost-effective online advertising
In the past, it's been hard to compete with the massive advertising campaigns put on by big businesses. But with the Internet, you can spread your message internationally in no time at all.
With social media and Google tools, creating your own advertising plan is simple. You can purchase sponsored posts, stream video ads, and create a content marketing blog for low prices. Targeting your customers through online platforms will help your small business take control of its future.
No more excuses
Stop saying it's just not the right time, or that you don't know how to get started, or that you couldn't possibly compete with other, bigger businesses. Now is the perfect time, all you need is to take that first step and begin. Take your plan into action and see for yourself how small businesses dominate the world in the coming years.