Importance of being Tech savvy for Small Businesses

Technology in businessBeing technologically savvy is the order of the day. If you wanted to start a small businesses that is not purely technical and therefore thought you wouldn’t need to be savvy enough, then you could be losing a race! That’s because technology has become integral to just about every industrial segment. No matter how small or non-technology based a business is, to match up with the market pace and needs, technology must be integrated into it.

Six reasons to why you need to be tech savvy:

Basic computer working knowledge

Although you may get help from administrators, you need to know how things operate at a workstation. You don’t need to be a computer engineer, but it is ideal to have the basic working knowledge of computers and the internet. So in case of a breakdown when your engineer tells you what needs to be fixed, you know exactly what he means!

Technology savvy SMEs actually create jobs

Recent studies have shown that small businesses that heavily use technology are highly successful job creators. According to a McKinsey Global Institute study, web-knowledgeable small and medium sized firms ranging from retail to manufacturing create twice as many jobs as firms that have limited internet usage. A study by Brandeis University showed that technology-intensive service firms enhanced the jobs at a rate of 5.1% between 2001 and 2009.

You gain access to industry and market related news

Technology helps you keep abreast of the latest developments in the industry. There are several websites or portals that give you information for free on various developments. You can keep an eye on the latest from the stock market. You can see who is doing what, who stands where, and you gear up for the competition!

Access to funding for start-ups

There are several online crowdfunding channels like kickstarter.com and indiegogo.com that can help you fund your venture.

You achieve more on low budget

Technology helps you achieve more with less. This way even though the firms stay leaner early on, they grow efficiently with almost half as much resources you would have employed without them a decade ago!

Technology for knowledge transfer and communication

Virtual knowledge banks, digital classrooms and emails would not be possible without technology. It also enables for neat presentations at university to corporate levels, it assists in conferences and helps sharing digital information.

Entrepreneurial Learning

A small business start up will require technology at even the smallest level. It’s time you get technology

Image courtesy: FreeDigitalPhotos.net

literate, understand their general working, so you are capable of driving your organisation the right way.

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