4 New Must-Have Technologies for Small Businesses in 2024

Small businesses are the backbone of the modern economy and drive innovation and growth, but keeping up with the latest technologies can be a challenge for small business owners who are already stretched thin.

The good news is that investing in the right technology can help small businesses overcome the obstacles they face and thrive in the years ahead. In 2024, we can expect the technology landscape to continue its rapid pace of change, offering new opportunities for small businesses to grow and succeed. 

Without further ado, let's showcase four new technologies for small businesses any small business in 2024.

1. Cybersecurity Software

new technologies for small businesses

Most small businesses already employ a secure network connection to perform daily tasks such as internal communication, data or document transferring, or running a point-of-sale system.

Nonetheless, while cyberattacks on larger corporations are typically the ones grabbing the headlines, small businesses are just as prone to attacks by hackers attempting to steal vital information and documents if they don't take the necessary precautions to protect themselves.

Anti-virus software, business VPNs, agentless sidescanning, and many other cybersecurity software solutions are great resources business leaders can utilize to guard sensitive company and customer data.

2. CRM Systems

new technologies for small businesses

CRM (customer relationship management) systems are part and parcel when it comes to storing, organizing, and analyzing data information in one place. They make it easy for businesses to engage with their customers and have been shown to increase loyalty and retention rates.

These databases also facilitate omnichannel marketing for businesses looking to scale up. Social media, live chat, emails, telephone calls, and other channels can be integrated smoothly into one CRM solution.

Cloud-based platforms such as Hubspot and Salesforce, which don't occupy any vital physical space on your business's premises, are excellent replacements for boxes full of months-old stacks of paper.

3. Online Shopping Platforms

Whether it be through an e-commerce platform or mobile app if your small business can spare the resources, creating an online platform for your loyal customers to shop in can drive groundbreaking profits for your business.

An online shopping platform can be paired with an astute digital marketing strategy that pushes your products to new audiences and potential customers every day to absolutely remarkable effect. 

Considering global retail e-commerce sales jumped by $500 million in 2022 and are expected to reach over $8 trillion in 2026, there is no better time to set up an online platform on websites such as Shopify or a standard mobile application.

4. Communication & Collaboration Applications

While COVID-19 brought an endless number of challenges for businesses of all sizes – with smaller companies being hit the hardest – one practice that emerged and evolved throughout our isolation is collaboration at a distance. Thus far, it's proven that it's here to stay.

While some company roles are impossible to fulfill from the comfort of our own homes, having certain employees be able to work from anywhere opens up a bevy of potential opportunities.

Zoom is by far the most notable collaboration application a small business can purchase a license for today, but other licenses for longer-running programs, such as Slack, are also worth an investment if you're longing to organize your employees asynchronously.

Closing Thoughts

With technology constantly innovating over the years, small businesses must stay ahead of the curve and adapt to the latest trends and practices if they want to succeed in the years ahead. 

These four new technologies for small businesses are just the tip of the iceberg. There are many more exciting innovations on the horizon that businesses can take advantage of now and in the future.

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