1.5.2 Technology and business GapFill

There are a variety of different technologies that can be used to help a small business to trade and to help entrepreneurs to keep their business costs down and increase profits.

  Shopways Intershop E-line E-commerce is the business term for shopping on the Internet.  Selling in this way has lower overheads for business as fewer staff and smaller premises are needed.  The shop can be open 24/7 and can reach a   macro global overall small  marketplace, and orders can be processed by staff the next working day.  This may attract customers from all over the world, and it increases the size of the market that the business can compete in.

Businesses can now use   large profit costs social media campaigns to promote their products as part of their marketing strategy, which is great for small businesses with a low marketing   economical cost budget mix , as most social media platforms are free to advertise on.  Social media also allows specific segments to be targeted with direct marketing, e.g. Facebook local selling groups, which will increase sales.

  Digital communication Telephone PlayStation Shouting  means that a business can get in touch with suppliers, employees and customers using means such as text, email, mobile phone calls and social media.  For example, a small local gym can text its members with upcoming promotions and increase the customer service levels by checking in with customers to see whether they are happy with their current gym classes.

A small business may also have a   Google eBay web area website , which is a section of the Internet which can be bought by a business to host its information.  For a new business, a website can be critical to boost sales by reaching more customers.  The business can also use its customer data from the website to build an email list of current customers and (if they subscribe to email contact) let them know of any new   places promotions needs wants that may interest them.

  Payment Recompense Free Sum systems are a vital way of transferring funds from customers to businesses.  Here are a few examples: Apple/Android Pay to take credit and debit card payments, which is ideal for shops and market stalls which are face to face with the customers;    Snob Bacs  Wacs  Snib payments or bank transfers are perfect for sole traders who are skilled tradespeople such as plumbers and electricians; and  PalPal PayPay PayFriend PayPal can be used for items bought over the Internet through the website of the business or on third-party selling platforms such as eBay or Etsy.