If there is a silver lining to our current economy, it is our Small to Medium Size Businesses. With decreased funding, training, and credit along with increases in taxes, health care, and litigation costs they are still the engines of U.S. Growth.
Small to Medium Size Manufacturers are now presented with a golden opportunity for three reasons:
1) Little Investment in Legacy IT Systems
Unlike large corporations, most small businesses are not riddled with old, cumbersome, legacy IT system that must now be translated to a new web-based infrastructure.
2) Affordable, Easy Software Technology Solutions
The cost of computer equipment and software has drastically decreased over the last decade. Technology that was once only affordable to large corporations is now affordable to the smallest of businesses. Additionally, the advent of "OnDemand" or "SAAS" applications eliminate the burden and the capital investment, implementation and maintenance of the Technology solution.
3) Product Development Explosion
The economic growth of developing economies will stimulate the need for more products from these countries emerging middle class. Due to the latest software Technology and broadband internet access the speed and cost of developing products can decrease significantly for a nimble, lean, flexible SMB. Additionally, the internet has leveled the playing field when trying to compete with the marketing dollars of the large corporations. If you have an innovative product, the word will travel fast. Now more than ever, the best product wins.
SMBs provide The Innovation Machine with their eighth mission:
8) To provide SMBs with the same Technology, Training, and Consulting as large multi-national corporations to support an efficient, lean, and flexible Product Development System.