Disruptors: SMEs Harness Technology to Transform Consumer Markets

Online marketing and e-commerce make SMEs more competitive

Online Marketing and E-commerce are taking business operations and transactions to the virtual space. This makes SMEs more competitive as they are not deterred by a large marketing and sales budget, thus increasing the pressure on larger businesses.

Cloud computing diminishes the entry barriers for SMEs

The availability of cloud computing has increased the flexibility for small businesses enabling them to overcome the need for a substantial investment fund to start a business. Consequently, big businesses no longer enjoy the immunity of their large resource base since infrastructural investment does not form a barrier to entry for SMEs.

Mobile and Smartphones make business operations easy for SMEs

Entrepreneurs can run their operations from smartphones, be it accessing documents from the cloud, gathering intelligence from the internet, making and receiving payments and recording marketing videos, or editing them and uploading them on the internet.

Free automated online services substitutes professional services

Online automated services allow companies to create brand identity, digital presence and sales leads while carrying out administrative functions more efficiently either for free or at a low rate. The services offer limited flexibility but this does not appear to pose a problem for the SMEs as the services offer enough functions to incorporate their key needs.

3D printing brings manufacturing under the purview of SMEs

3D Printing can be described as a small scale manufacturing device. It is not new, but the falling cost is making it accessible to SMEs particularly catering in the B2B space.

Alternative sources make financing easier for SMEs

There are a number of alternative online financing platforms that are designed to facilitate small businesses also known as fintech. These include peer-to-peer (P2P) lending through dedicated sites connecting lenders with borrowers. There are also crowdsourcing sites that garner funds from private individuals to fund creative projects. Private equity firms, however, are taking an interest in SMEs with disruptive potential.