Small enterprise opportunities abound.
Small enterprises have never had it so good.
Small enterprises are now at the forefront of economic development and job creation. Small-medium enterprises (SMEs), non-profit or for-profit, are the new creators of jobs and a way to improve people’s lifestyles. The good part is that governments and corporations realise that big is not necessarily critical regarding work/life integration and improving lifestyles. Home-based businesses and telecommuting are playing a significant role.
Technology has become the critical driver of today’s small enterprise opportunities.
Technology has never been better for small enterprises. It’s reliable, user-friendly, and far cheaper than a few years ago. The train waits at the station for small enterprises and potential owners to climb aboard and take advantage of the current world economy and business marketplace.
According to Harvard Business Professor Boris Groysberg, “Startups are the Googles of tomorrow,” and these days, it’s all about “disruption”. But what exactly does that mean for your small business?
In Australia, SMEs now make up 99% of all businesses. In 2016, 850,000 new enterprises were established, up from the 250,000 that had been the norm for the last few years. Regarding employment, SMEs now employ more than half the total workforce.
A few years ago, when an aspiring Prime Minister announced that if every small business in Australia employed one more person, we would solve the unemployment problem, most people laughed at him. Today, it’s not so funny. Where would everyone come from if all existing businesses employed one more person and there were another 850,000 new startups? This is something for our non-business-oriented politicians to get their minds around.
What will change the landscape involving small enterprises?
The principal driver is technology, particularly cloud computing. It is making small enterprises ubiquitous. Cloud computing is now readily available and very affordable. Today, technology has made me feel like a ‘kid in a chocolate shop’ because so many options are available. Technology is opening up avenues where the doors were previously shut.
Lifestyle businesses are emerging.
Smallness has become more achievable with the new technologies that have given rise to the home office. Smallness means you can be nimble. It’s much easier and quicker for you and your teams to respond to shifts in the market. Even if it’s very established, you’ve probably seen some seismic shifts in your industry.
Today, more than 50% of all enterprises are home-based. Has house hunting also become office hunting? With technology becoming more advanced and present in the home, the need for space is dwindling, and the pressure on lifestyles is mounting. Even employers understand the human and economic costs of the ‘big computer’.
Try moving into a place where you can mix with other enthusiastic SME entrepreneurs and challenge the status quo. And, of course, have more fun along the way.
Quotable quotes.
“Whenever you see a successful business, someone once made a courageous decision”. Peter Drucker
“Surround yourself with people who can help you put your plans for the future into action”. Peter Sergeant