Last year, Americans proved that there has never been an easier time to form a new business. In fact, the country saw a staggering number of between 400,000 to 500,000 new business applications every month. The United States Census Bureau confirmed that 99.9 percent of these new formations were small businesses.
This spike in entrepreneurship could partly be due to the fact that entrepreneurs now have a trove of resources available to them. Technology has revolutionized every aspect of the way in which businesses operate; the exponential development has resulted in a change that has never before in history occurred so fast.
New formations now have a bevy of business tools and resources that have sprung up online at their disposal. Between such a wide variety of software, business apps, and business solution services, entrepreneurs are more likely to build successful brands now than they have ever been. In this article, we will look at some of the tools and services that are making business formation easier.
Communication and Information Sharing
Communication and the way in which members of an organization share information is a critical function of every business. Today’s digital world provides a wide variety of options, with the technology available to make the process faster, easier, and more efficient. The wide variety of software, social media platforms, and chatbots that are being leveraged daily has ensured that entrepreneurs are no longer confined to outdated means of communication.
Communication is effective when technology taps into customer information and insights that help to create personalized messaging. Automated communications help businesses boost marketing productivity while reaching more customers. Entrepreneurs should however be cautioned not to lose the human touch in their brands when looking at technology to make the process easier.
Registered Agents
While registered agent services are by no means a new concept, they are still very much relevant. Professional business agents are the simplest way that a business can guarantee that all the paperwork is correctly filed and prerequisites are sufficiently met in order to properly form a business.
Registered agents are valuable to businesses as they ensure that owners are able to stay up-to-date on state requirements through the sending of regular reminders. Some agents also help with the filings of important paperwork, such as annual reports and other official government notifications. Registered agent services are also able to store copies of corporate documents for a business.
We recommended reading more on the topic; entrepreneurs can visit platforms such as BestLLCServices.com; this website provides in-depth information on registered agent services.
Cloud Computing
According to Google, “Digital transformation drives foundational change in how an organization operates, optimizes internal resources, and delivers value to customers. Cloud technologies provide the foundation for becoming more agile, collaborative, and customer-focused.”
Cloud computing has enabled businesses to migrate some of their operations to third-party servers that are easily accessible via online platforms. This allows for flexible data packages and rapid (on-demand) expansion as well as mobility without the distress of having to worry about factors such as downtime, crashes, or permanent data losses. Businesses that adopt cloud technology are able to innovate quickly, scale efficiently, and even welcome new market capabilities faster. As a result, small to medium-sized companies have access to resources that would have otherwise been unattainable due to cost-prohibitive. Thus, evening out the playing field against corporations that have access to far greater funding.
Government Resources
The United States government realizes the importance that small businesses play in the country’s economy. They have therefore made it a priority to ensure that entrepreneurs have access to funding as well as federal, state, and local resources that will aid in the startup process as well as with the maintenance and growth of a business.
Some of the online government resources include:
- Business.USA.Gov
- IRS Small Business and Self-Employed Tax Center
- Minority Business Development Administration Programs
- Equal Employment Opportunity Commission
- USDA Rural Development
- Delta Regional Authority Small Business Initiative
Final Thoughts
Technology has resulted in entrepreneurs having more resources at their fingertips which in turn makes it easier to start a successful business. These resources, coupled with hard work and determination, are a winning combination for a successful business.