There has never been a better time in history to be an entrepreneur
Small businesses are no longer restricted to small geographical regions. They increasingly have a global footprint, a trend accelerated by the pandemic and technology. Brick and mortar stores are falling to eCommerce.
Knowledge used to be a commodity, now it’s freely available and people pay for implementation. You now have access to more information, tools and computing power than ever before in history.
A business provides an effective vehicle for maximising wealth and other (legal) tax advantages compared with being an employee. A profitable, well-structured business is also a saleable asset.
Access to enterprise-grade software/services, the rise of AI and virtual working means small businesses can operate in a far leaner way than ever before.
A small business is personal and agile, it knows its people and clients. This connection often leads to better places to work and do business attracting the best people and clients. Smaller teams mean that change is easier to implement, front line innovations are likely to be heard and acted upon. All of these factors mean that small businesses can grow, adapt and change faster than any other type of business.