Tech and Trends:- Technology has provided a range of tools which entrepreneurs can utilize for their new startup Companies. Advancements in IT have affected communication, marketing and accounting standards. An internet marketing merchant account will be needed if the traditional banks will not help your local IT business.
The first impact of IT on small businesses was on the accounting sector. Accounting software packages are now being utilized as it makes it simple to post transactions and set up accounts. Some useful accounting packages include QuickBooks and Microsoft Money. Financial statements and informative reports can also be created. The second impact of IT on small businesses was on the Internet. The Internet has made an impact as it has leveled the playing field for small business competitors. Advanced graphic and video software has made it easier for small businesses to reach millions of viewers while also creating professional marketing material. Some useful tools that entrepreneurs can utilize include AdWords as it helps spread the targeted message. Small businesses can share advertising space as needed.
Drawbacks also exist as the startup costs can overwhelm a brand new startup business. Some common startup costs include the network infrastructure, computer workstations and telephone lines. Many bootstrap entrepreneurs will utilize their own cellphones and PC’s but many of the new ventures will need to utilize and get involved with large infrastructure projects. Time management also becomes very important for small businesses. Freeing up time can lead to productive activities such as boosting new business and creating vital contacts with strategic partners. Advancements in telephone and computer technology have allowed many startup Companies to utilize CRM software which has enabled many entrepreneurs to hold efficient face to face meetings.
IT has a major impact on small businesses in the accounting and the Internet sector. Many software packages can now be utilized to efficiently manage accounts and transactions that rise up. Video and graphic software can also be efficiently used as many Companies need valuable advertisements and marketing to be done in a timely manner. Technology is going to continuously make an impact as entrepreneurs start up brand new businesses.
Blair Thomas is a successful entrepreneur who co-founded eMerchantBroker.com, the top high risk credit card processing firm voted by top credit card processors. He has managed several successful agent offices and registered ISO’s. When he isn’t working hard in the payment’s industry you can find him hiking the hills of Los Angeles, check him out on Google Plus