2013 is an exciting time in business. While some companies are really struggling to stay afloat, flexible new businesses are taking advantage of the changing marketplace. For example with the recent demise of high street electrical goods retailer Comet there has been a boost for online businesses rushing to offer the same goods at better value.
Young people are really well placed to take advantage of these openings in the market. But with banks now less keen to lend out money to new businesses the government is stepping in to offer cash for young business people hoping to start new ventures.
David Cameron recently visited The University of Central Lancashire to speak about an extra 30 million in funding to help start small businesses. Mr Cameron said of the loans:
“They are a great way to help this next generation of entrepreneurs get the financial help – and the confidence – to turn that spark of an idea, into a growing, thriving business.
“It is by backing our entrepreneurs and championing small business that we can drive forward and grow the economy, and equip this country for the highly competitive era we are in.”
Many new businesses are harnessing the power of the online marketplace when starting up. With the web design skills and capacity to utilise social networks many people have today is possible to start a company quickly and cheaply. Overheads can be kept to a minimum in this way and many of the traditional costs of doing business can be slashed. For example, a successful online marketing campaign can take just a little time and ingenuity to produce for little or no money. After a successful campaign, people tend to open physical retail stores by hiring salespeople, setting up the billing desk with Bill Counters, and stocking the shelves with the product in demand. This in turn helps them to grow the business offline as well as online. This is how the impact of a successful viral marketing campaign can be.
One example of a cost-effective and hugely successful viral campaign is the Will it Blend? YouTube videos by the Blendtec blender company. These simple and fun videos showed the company founder trying to blend an item, to show the power of his blenders. The video where he attempts to blend an iPad has over 15 million views, and the term ‘Will it blend?’ has become a popular phrase.
It is not just in advertising that the power of the web can be seen though. The explosion in popularity of web businesses has shrunk other overheads too, such as logistics costs. The biggest music and media retail businesses in the world are now web based, meaning the deliveries market has had a huge boost in competition. There are now many internet parcel collection and delivery companies competing for the vital business market, so prices have been driven down. One example is parcel delivery company Rapid Parcel, who offer the trusted courier services of big name companies like DHL and City Link, but at a lower price point. The user friendly nature of these online courier services, along with their budget pricing, has made them a huge hit with businesses and consumers.
So if you run a business at the moment then maximising your use of the internet and all the opportunities there can really boost your profitability and success. With some creative thinking and a little tech-savvy, you can really take advantage of the changing marketplace.