Five Ways Technology Has Made Starting a Small Business More Affordable
With technological advances, many have been able to start a business that, in the past, would have been difficult, if not impossible, to start. In fact, some entrepreneurs owe it all to technology. With this in mind, here are five ways technology has made starting a small business more affordable.
In the past, it was expensive and time-consuming to find a merchant account. However, with PayPal and other systems, one can accept payments from anywhere in the world. Not only that, it is now so much less expensive than in the past, it is also easier to use. Either way, when doing subscription billing or charging one item, one has more choices with technology.
With a business, some people must incorporate. In the past, this meant finding a lawyer and taking long trips to various government buildings. Now, with the Internet and some websites, one can register their LLC and start making money quickly.
It was not cheap to have a business phone line 15 years ago. Now, one can have a VoIP setup and pay a minimal monthly cost. Furthermore, with VoIP, one can set up an 800 number without much time or money. This has changed the environment and made it possible for small business owners to make their companies appear larger than they are.
With Google AdWords, social media and content marketing, a company owner can reach out to potential customers without spending a lot of money. This is in stark contrast to the old days when one would have to use radio, print or television ads. Simply put, some people found success with their Internet business solely based on the fact they could find thousands of customers all over the world. Since this option did not exist in the past, one should take advantage of it to the fullest.
A person with some computer experience can now do the accounting for his or her organization. This is a tremendous benefit as it will save an owner a lot of time and money. Of course, it is still wise to see a CPA at the end of the year. However, when an entrepreneur does hire an accountant, he or she will save some cash and still have clean books at the end of the year.
Technology has changed the way people live. Without a doubt, it has made it easier to run a successful small business.