Until recently, starting a firm was nearly impossible for entrepreneurs who had few options of support and resources. The latest technological advancements and platforms are levelling the playing field for start-ups and entrepreneurs who were previously limited by costs and access to expertise. Pradeep Agarwal Oracle elaborates how the global economy is seeing a surge of entrepreneurial spirit with the emergence of enterprise-level software and services.
“It’s not just Silicon Valley that is getting the advantages of tech tools, India is on track to have the largest app developer base. The nation’s entrepreneurial spirit and huge scale are fueling confidence about the future and potential of India. Small businesses are quickly reaping the benefits of devices and platforms that they didn’t have access to just a few years ago. Entrepreneurial enterprises are now more rewarding and accessible than ever before because of technological advancements,” says Pradeep Agarwal of Oracle.
India’s skill pool, which includes engineers, developers, and creators, as well as a thriving start-up ecosystem, is helping to shape the future. The online gaming industry in India has grown rapidly in recent years, and a big investment in gaming in the country continues to rise in the view of the metaverse evolving. Pradeep Agarwal of Oracle lists some of the reasons behind the wave of entrepreneurial spirit in India.
First and foremost, due to technology, pioneering has been made easier. A growing number of solutions are emerging to assist businesses in quickly and easily creating storefronts. For instance, Amazon Web Services and Backspace are assisting start-ups in making sales and establishing their brand in their sectors rapidly. In fact, there are hundreds of apps available to assist start-ups and small businesses, ranging from legal programmes to delivery services. With so many possibilities, businesses no longer need to assemble a group of investors to open a physical location or beg their way into larger stores.
Second, cash has always been one of the most significant impediments to business activities. Today’s technology hasn’t completely solved the problem, but it is lowering obstacles at a faster rate. For starters, technology’s capacity to assist entrepreneurs in connecting to the worldwide market is providing businesses with a larger audience and client base, regardless of how unique a product or service is. Entrepreneurs are gaining access to areas that were formerly thought to be inaccessible to small and medium-sized firms because of word-of-mouth marketing and analytics technologies.
Subsequently, companies’ capacities to store and access data and applications through the internet are being boosted by cloud computing technologies. As a result, entrepreneurs are no longer restricted by their physical location. “With video chat and conference platforms like Skype, Google Hangout, and Slack, they may run a profitable business and employ a team from the comfort of their own homes,” informs Pradeep Agarwal of Oracle.
Furthermore, entrepreneurs now have access to current technology and the internet, allowing them to use a variety of learning tools to help them master their projects and communicate their efforts to clients. They can share and improve a person’s understanding of services in ways that would have been impossible to do without the support of crowd-sourced platforms. These review hubs can assist entrepreneurs in staying informed about what their products and services should do to boost client satisfaction.
The conclusion states that technology is one of the quickest and best ways to take start-ups and turn them into businesses. It has the potential to increase an organisation’s success and optimally reap the benefits of business technology.