Small companies face challenges with ever-changing technology

Technology is always advancing, which is a good thing for New Jersey business owners. Technology can make everyday business deals run more smoothly and help bring in more profits. However, there are so many offerings out there that it can be overwhelming - especially since entrepreneurs have many other aspects of the business to worry about.

Many owners of small companies or family businesses are unaware of how certain technology offerings can help them with their business. In fact, more than 60 percent of 500 small business owners surveyed in the United States are frustrated with the number of options available. In addition, more than 70 percent believed that new technology - not new employees - would bring in more business this year. However, many were also concerned about the risk of implementing new technology too early or missing out altogether.

Technology should offer efficiency to not only to the business itself but to the customers as well. Good entrepreneurs always think ahead and anticipate what customers want or need. At the same time, companies need to see where their competitors are at and try to surpass their efforts. This is a daunting task for entrepreneurs who are not so technologically adept.

A small business owner must wear many hats. There are many aspects involved in running a business, ranging from technology to advertising to understanding legal implications. Using the wrong technology - or not using any at all - can hinder a business, so it may be worthwhile for some entrepreneurs to seek professional guidance so they can make the right decisions in order to grow their company.

Source: FOX Small Business, " 3 Ways to Stay on Top of Small Business Technology," Jared Hecht, April 25, 2014

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