Technology’s impact on small businesses

With the ever-increasing digital landscape, small businesses are finding it a lot easier to compete with larger, more established organisations than ever before. The impact of recent advancements in IT/Technology has enabled small start-ups to be more swift and agile, even responding to change faster. This, plus the positive impact on collaboration and financial savings has meant productivity is at an all-time high for smaller companies.

Collaboration

The impact that technology has had on communication and workplace collaboration has revolutionised many global corporations. Colleagues are now able to communicate with each other much more quickly and effectively than ever before. Also, working from home or ‘on-the-go’ is much more commonplace.

Smaller businesses are also reaping the benefits of this. Rather than learning from the ground up, a more collaborative work ethic is already established, thereby reducing the need for the workforce adapting to change.

Financial savings

One of the most important operational aspects of any business (big or small) is keeping costs low while delivering a healthy revenue. Luckily, the technology boom has increased productivity and reduced the financial costs for organisations who have adapted appropriately.

Because of technology, fewer workers are needed which has reduced payroll costs. Travel costs are also reduced due to advancements in communication.

However, technology can’t provide you with everything you need to get your business off the ground. At Funding hut, we can help you get off your feet by finding you the best loan, at the best rates.

We’re here to help

Whichever type of loan you are looking for, we’re here to help. Fundinghut also offers free consultation and advice on anything funding related.

Give us a call today on  0203 900 0970 or email enquiries@fundinghut.co.uk