Entrepreneurship and Small Business

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Role of Technology in Small Business

• Technology plays a big role in business. Apart
  from easier processing of daily business
  activities, it provides greater efficiency and
  versatility in business, making it a natural
  progression for processes. Entrepreneurship and
  Small Business relies on technology to help them
  operate on a daily basis. From online file
  storage, printers, laptops with internet
  capabilities, and web-based applications,
  technological advances impact small businesses
  across various industries. With the ever-evolving
  arena of market, its important for business
  owners to keep updated with the latest Technology
  News

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Entrepreneurship and small business
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Some of the ways technology can affect a small
business are

• Productivity From streamlining the work
  processes with digital dictation, technology is
  used for project and task management in business.
  With the use of time tracking software, the
  accountability and productivity of the business
  process can be improved.
• Security Businesses are subject to security
  threats and vandalism. Technology can be used to
  protect confidential executive decisions,
  financial data, and other proprietary information
  that leads to competitive advantages. Technology
  helps businesses keep their ideas away from the
  competition ensuring the project confidentiality.
  

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Some of the ways technology can affect a small
business are

• Efficiency Technology expands the reach and
  efficiency of the business. It helps businesses
  understand its cash flow needs and preserve
  precious resources such as time and physical
  space. Warehouse inventory technologies let
  business owners understand how to manage the
  storage costs of holding a product.
• Marketing Technology is not only essential for
  day-to-day business activities but also helpful
  for companies to achieve growth and success when
  utilized effectively. Some of the most successful
  businesses dont view technology simply as a way
  to automate processes, but instead, use it to
  open up new ways of doing business.

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