Small businesses in Florida are taking advantage of technology

May is recognized as Small Business Month, and as we reflect on what drives the success and growth of American entrepreneurs, technology is playing an increasingly important role on the front and behind the scenes in supporting the small business sector.

Whether it’s point of sale software, e-commerce platforms, social media or artificial intelligence (AI)-based products, technological innovations have not only transformed entrepreneurship, but have enabled people like me to pursue successful entrepreneurial ventures, opening up a world of opportunities for Americans from all walks of life.

Technology has become a critical resource for business development; entrepreneurs can leverage the internet, digital tools and online platforms to start and scale their businesses. Technology innovations not only open up possibilities and possibilities for the typical business owner you might think of, but they also help artists, musicians, chefs and many others break into spaces that might not otherwise be available to them.

In Sunny state, there are 3.1 million small businesses, representing 99.8% of Florida businesses. According to WalletHub, it’s Florida third best countries to start a business, largely due to the dynamically developing local economy financed by small enterprises, and has the fourth largest state economy in the country.

However, Florida’s continued growth and success are not possible without technology. Entrepreneurship is never easy. It takes time, access to capital, dedication, commitment, and the ability to remain flexible to navigate uncertain times and economic conditions – from inflation to supply chain challenges.

A recent survey of small businesses conducted by American Express found that Main Street is struggling to cope with economic woes, with price increases and cash flow on the list of concerns, but also states that 85% are satisfied with their business and see a positive future for small businesses, mainly due to taking steps to implement new tools to remain competitive in a growing market.

Among these new tools, artificial intelligence is one of the most important business areas that is attracting the greatest interest from small businesses. Whether it’s AI tools focused on financial management, email marketing, or inventory management, AI increases revenue, increases efficiency, and frees up small business owners’ time. By the Small Business and Enterprise Council test83% of small business owners plan to invest in AI-based tools in the next 12 months.

However, access to these essential tools is not always guaranteed. Washington lawmakers are considering policies that could potentially undermine the technology tools that small business owners like me rely on. Policymakers need to understand that such changes can significantly impact the development of small businesses.

Eighty-five percent small business owners believe Congress must balance AI policy and innovation. The same balance must also be maintained with regard to technological innovation as a whole. Pursuing policies that risk handcuffing America’s best and brightest innovators will impact the small businesses that use these tools.

American technology companies are innovating and developing tools and platforms that small businesses use for free or at low cost. Without these investments, tools and innovations, small businesses will be left behind in today’s digital economy. They will be less competitive, unable to keep up with market trends and customer demands, and face even more obstacles that will cost them time, money, and even business.

Policymakers must recognize the critical role that technology plays in the success of these small businesses. By empowering America’s technology innovators who deploy these tools, policymakers can support small businesses and raise the level at the local, state level, and national economies.

___

Jessica Dudley is the chairman of Posts For Possibilities. He is an internet and social media entrepreneur with nearly a decade of experience using these platforms to run a small business in the beauty and beauty industry.

Post views: 0