“Global Innovation Strategy”, helping them
cloud, taking the building cost down from
get started in Silicon Valley, Tel Aviv and
the hundreds of thousands a decade ago,
three other locations.
to the thousands of today. The widespread accessibility of the World Wide Web has also enabled start-ups to expand their reach to a potentially unlimited number of consumers, providing companies with a new avenue through which to serve customers. Consequently, many previous “bricks and mortar” retailers, such as Wal-Mart and Barnes & Noble, have transitioned into “clicks and mortar” companies through incorporating Internet
2. cheap and accessible technology
sales, and elevating the role of e-commerce, reflecting the shift in business landscape brought about due to the onset of technological advances.
Cheaper and more accessible technologi-
growth of Smartphone use and the accom-
decade due to improvements in technology. No longer is it necessary to pay for hardware, or commonly-used code tools or expansive support teams. Websites today use open-source software and are hosted on the
economic downturn, with small-business loans still down 20% since pre-crisis levels, there have been signs of change, primarily attributable to the increased competition traditional lenders face, with the advent of crowdfunding. Crowdfunding has boomed in recent years, through the meteoric rise of sites such like Indiegogo and Kickstarter, growing into a $5.1 billion business in the U.S. according to the Crowdfunding Centre Report. The rise of online alternative lenders including
sible technology, and increased avail-
drop the cost of budgeting, tracking sales,
reduced cost requirement over the last
ers to provide loans to start-ups since the
The state of regulation, cheap and acces-
panying app explosion have combined to
gy start-ups have enjoyed a dramatically
Despite the reluctance of traditional lend-
obtain funding.
tion. The rise of the sharing economy, the
upfront investments in capital, technolo-
able to generate revenues on their own.
non-traditional pathways for start-ups to
to entry and speeding channels for distribu-
manufacturing start-ups which require hefty
rapid growth, until they develop and are
small-business loans, have also provided
small-business owners by reducing barriers
Unlike traditional retail, real estate and
angel investors, which is used to finance
OnDeck and Foundation, which focus on
cal developments have enabled the rise of
and just about any other business service.
funding from venture capitalists and
ability of loans are all fair winds blowing
3. INCREASED AVAILABILITY TO CREDIT
in favour of potential start-up owners. In short, if you are itching to bring your business ideas into reality, there has never been a better time to go out on
The modern world is dominated by
your own!
innovative ideas and the advent of new technology. However, innovation alone cannot facilitate success. Innovators require a strong start in order to develop their ideas and grow their businesses. As such, start-ups typically require large-scale
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