It has never been a better time to start a small business

These days a small business has easy assess to tools that, just a few years ago, only big companies could afford.

As a result, in the US alone, a record number of small businesses have been created since the start of the pandemic in 2020.

In an article published by Sherwood News, speculation is made as to what is driving this phenomenal growth:

The shifts in technology and industry that empower small businesses — like national and even global reach thanks to digital communications networks, fast setup and distribution via an increasingly streamlined logistics and shipping infrastructure, and the greater ease of hiring contract labor — mean that a significant number of the nation’s newer small businesses are very different from the ones that get talked about ad nauseam by politicians. 

If more powerful and cheaper technology is an important driver of this small business phenomenon, then it would be reasonable to presume that this trend will not only continue in the US, but also spill out to a lesser degree into other regions of the world including South Africa.

Rising business confidence in South Africa, along with a more stable electricity supply and a new Government of National Unity (GNU) that appears to be more equipped to run things than the previous administration - all support the conditions under which entrepreneurs are fooled into starting 'their own thing'.

The opportunity?

An uptick in the number of small business ventures in an economy presents savvy entrepreneurs with an abundance of opportunity. With limited cash flow at their disposal however, products and services aimed at these fledglings will need to be stripped down and affordable and not subject to onerous levels of commitment.

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