With the coining of the term ‘millennial’ comes a generation that is still in the process of transforming the business landscape. The powerful technology that is now available at high-street prices means that many longstanding, traditional business models are being either scrapped or being adapted to the digital age. Digitization has somewhat provided a business equality model for small businesses and entrepreneurs: the gap between small businesses and large enterprises has narrowed.
Technology is changing how business is conducted, and its scalability. Increases in use of the internet for business has provided access to more resources, and a wider audience of contacts and customers. This means that small businesses have been able to grow and develop faster than before. Here are three examples of how digitalization has advanced small businesses.