The software giant, Microsoft Inc believes that small businesses “may be in a position to rise faster” thus, improving the economic value of a nation.
Referencing the Boston Consulting Group study and US Bureau of Labour Statistics, Microsoft concluded that “businesses that are technology leaders increased annual revenue 15 percent faster than those that are slow to adopt new technologies,” as “mall business firms accounted for 60 percent of net new jobs.”
[blockquote right=”pull-right” cite=”Microsoft”]“Cloud services, mobility solutions, and business analytics all offer valuable capabilities that allow small and midsize businesses access to the same technology solutions that used to be reserved for larger companies. While poised to benefit from these growth enablers, small business owners like you need to evaluate how to take advantage of modern technology to grow and transform your business,” [/blockquote]
Microsoft identified “contributors” to these recent growths and technology priorities that could significantly impact startup businesses, according to the tech company’s website.
Sid Shagaya of Konga, whose company just acquired a new venture fund of $40 million for the online platform’s expansion did say in an interview that logistics is the new money, in what seems the game-changing role of new players.
As it has been said over and over again, technology is constantly evolving and thankfully, it is providing new opportunities for business development and growth.
“Cloud services, mobility solutions, and business analytics all offer valuable capabilities that allow small and midsize businesses access to the same technology solutions that used to be reserved for larger companies. While poised to benefit from these growth enablers, small business owners like you need to evaluate how to take advantage of modern technology to grow and transform your business,” the software giant said.
Microsoft says that relaxing financial regulations has a key role to play as growth contributors to small businesses worldwide, as “financial institutions began accepting smaller profits on some loans, allowing businesses like yours access to valuable financing that can help your business expand or cover operating expenses during slower periods.”
FCMB is known for its soft and small interest rate loans for startup companies. Bank of Industries Nigeria also says it has one digit interest rate rule for entrepreneurs and start-ups in the country.
We also learnt from Microsoft that the fact that small and midsize businesses are no longer limited to doing business within the local community or by international boundaries, has in great ways helped small businesses grow globally.
For instance, “with the increase in affordable, easy to use, B2B e-commerce solutions in recent years, your business can now attract and secure customers in new markets,” Microsoft says, while also noting that “third-party logistics providers offer reasonably priced supply chain management, warehousing, and transportation services to enable smaller firms to compete effectively against larger global corporations.”