{"id":16386,"date":"2021-08-23T07:40:21","date_gmt":"2021-08-23T07:40:21","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=16386"},"modified":"2021-09-08T08:08:10","modified_gmt":"2021-09-08T08:08:10","slug":"the-keys-to-the-growth-of-small-businesses","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/the-keys-to-the-growth-of-small-businesses\/","title":{"rendered":"The Keys to the Growth of Small Businesses"},"content":{"rendered":"
Like business and commerce generally, the small business arena in the US has changed and evolved over the years<\/a> as tech advancement removes barriers and the \u2018entrepreneur culture\u2019 becomes more prevalent.<\/p>\n The US Small Business Administration (SBA) says there are now almost 30 million small businesses employing more than 47% of the workforce. While the SBA defines small businesses as those employing fewer than 500 people, the majority employ fewer than 100 and many are micro businesses with a handful of employees or maybe just one or two.<\/p>\n <\/p>\n Relatively recent tech – such as the Internet, Big Data and AI (Artificial Intelligence) – has enabled small businesses of just about any size to reach and service their market wherever it\u2019s located, and advanced POS (Point of Sale) systems are widely used throughout the small business community – not just by larger retail operations.<\/p>\n Tech has extended the reach and scope of smaller business:<\/p>\n More data is being collected than ever before thanks to increased use of social media and mobile apps to name two sources. This data is being analyzed in more depth to provide highly valuable marketing intelligence for businesses of all sizes, not just larger corporations.<\/p>\n It means smaller businesses can operate from a position of strength from knowing more about their market, and cloud technology enables small concerns to store the ever-larger amounts of data economically without the major expense of physical storage.<\/p>\n undoubtedly a huge game changer for all business, but really opens up opportunities for smaller operators.<\/p>\nThe Tech Transformation<\/b><\/h2>\n
Data and the cloud<\/b><\/h3>\n
The Internet<\/b><\/h3>\n