Do Not Ignore New Technologies

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Advancements in digital technology have disrupted traditional business models and leveled the playing field for small businesses, allowing them to go global at a swift speed.  Technology also lowers barriers to entry for start-ups, giving them opportunities to experiment with new business models.

The problem is small businesses are not seeking out these new digital solutions that they can take advantage of.  They take a wait and see attitude which can lead to a stall on growth.  Yet:

Professional services firm PricewaterhouseCooper estimated that businesses can unlock an additional $49.2 billion in the private sector over the next decade if technologies are used to their full potential.

Read more:  Report:  Small Businesses Losing Out By Ignoring New Technologies