This article was written to frame The Insight Exchange’s SME Technology Summit in Sydney on December 1 – while many of the references are to Australia the issues apply globally.
Small and mid-sized enterprises (SMEs) are taking a larger share of the business pie, and increasingly driving economic growth. This is one of the most important trends in business today, and one that will shape the next decade of business, work and society.
This powerful trend is driven largely by technology and connectivity, creating a world in which smaller, more nimble, better connected companies can outsmart their monolithic larger brethren, competing globally and tapping opportunities as they arise.
At the same time, using technology well in business is proving to be one of the most prominent drivers of success. Almost every aspect of business is becoming driven by technology. This is obviously the case with services businesses ranging from graphic design to even house moving. However this is relevant to every kind of organisation.
Gardening and worm farm retailers Wiggly Wigglers in UK, Caminito Argentinean Restaurant in the US, Brasserie Bread in Australia , Martell Home Builders in Canada and many thousands of others around the world are examples of companies selling highly tangible, everyday products that have built outstanding success through the use of online social media.
There are six key ways in which technology is changing the very nature of how smaller companies operate today.
1. Findability
Customers look for and find businesses in very different ways than just a few years ago. Search engines, recommendations from friends on social networks, and online services exchanges are now how most companies are found. Marketing has completely changed.
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