Take a look at recent trends and developments in technology. It’s clear that these changes can give entrepreneurs that extra leverage to scale up. Here are three to consider.
(BPT) - Small businesses are far more influential than most people may realize.
That influence is felt well beyond Main Street. Small businesses make up 99.7 percent of all businesses in the U.S., and these firms employ nearly half (48 percent) the workforce, according to the 2018 Small Business Profile compiled by the U.S. Small Business Administration.
In addition, take a look at recent trends and developments in technology. It’s clear that these changes can give entrepreneurs that extra leverage to scale up. Here are three to consider.
Big companies have big opportunities for small firms
Back in the 20th century, a large company would get things done in this very straightforward way. Wherever there was a need, they hired someone directly to perform that task, whether it was a driver or an accountant.
Under today’s leaner models, these big companies are finding it’s much more efficient to partner with other firms to fulfill certain needs. According to Deloitte, 31 percent of IT services have been outsourced, as well as 32 percent of human resources. This increasing acceptance of outsourcing is a huge growth opportunity for small businesses owners.
For example, Amazon recently announced it is actively seeking and helping entrepreneurs who are willing to deliver packages as their contractors. The mega retailer will even go as far as helping with startup costs so long as these smaller firms deliver their packages. Landing a contract with a big corporation is a significant milestone for any company, but starting out with that lucrative contract is sure to let these startups hit the ground running.
Better connections for greater flexibility
When today’s entrepreneur has a new role to fill, they’re not confined to the talent pool in their immediate community. Because we now have the tools and connectivity to work from anywhere, a business owner can expand the search across multiple states!
What’s more, these flexible, work from anywhere options can give business owners the inspiration to do things differently. Having greater collaboration means having access to more options to fit specific needs.
For example, what is the very nature of being a small business owner? It’s dealing with a fluctuating volume of work. Tapping into the talent pool of freelancers to work on these specific, short-term tasks and projects is easier than ever, because for a segment of workers, freelancing is increasingly becoming a way of life. Freelancers currently make up 36 percent of the workforce, according to a study from Upwork. And, if trends maintain, most Americans will be freelancers by 2027.
Thanks to remote options with easy access to talent, small businesses can easily set up temporary or ongoing as-needed work arrangements. When you partner with Dell for your computing needs, you’ll get the expert help and support so you can set up the perfect flexible workspace system.
More automation brings better efficiencies
Without a doubt, new technology works in favor of small businesses and entrepreneurs because they have many tools at their disposal to automate labor intensive processes, be more productive and cut costs. For example, entrepreneurs can use software to process client payments and even set up automated payments, saving hours and costs associated with collecting, processing and reconciling under the traditional paper check payment system. That translates into a more efficient billing department that can spend more time focused on complex issues.
Let Dell equip your small business with the right tech tools, tailor made for your venture and backed with support, so you can focus on running your business.
(BPT) - Companies across the nation are looking for ways to become more energy efficient, and small and medium-sized businesses (SMBs) are no exception. Reducing energy consumption is one of the top areas where SMB leaders need more guidance - up 14 percent from the previous year, according to the Cox Conserves Sustainability Survey.
Energy costs are among the largest business expenses for any company. Simple conservation efforts will go a long way to lower the power costs of your current operations.
"More companies than ever have said they want information on sustainability," says Cox Enterprises Executive Vice President Alex Taylor. "Our survey showed that some SMBs often find it difficult to make or justify the investment in sustainability programs or prioritize them over other demands and initiatives. From our own experience with the Cox Conserves program, I can confirm that sustainability is as good for our business as it is for the environment."
Here are some quick tips that can help any sized business improve efficiency and cost savings.
1. Know your baseline. Your utility company can provide detailed usage records that show usage and cost totals, as well as helpful details like peak usage times. This data helps you measure your progress.
2. Take advantage of savings. Government agencies offer a variety of tax credits, rebates and other incentives to support energy efficiency. Visit energy.gov/savings to find programs that may be available to your business.
3. Pay attention. Take note of the natural energy sources specific to your geographic location. Sun or wind energy technologies may be great money-saving solutions. If the sun sufficiently lights your office or meeting room, make a point of keeping the blinds open and the electric lights off.
4. Look at lighting. Lighting retrofits are a simple and effective solution that do not interrupt regular operations and often offer a short return on investment.
5. Encourage employees. Turning off computers and other office equipment when not in use is an easy way employees can make an impact.
These tips can start your business on a journey toward becoming a more efficient and eco-friendly organization. The benefits start at protecting the earth and extend to enhancing the bottom line.
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