Business News of Thursday, 29 June 2017

Source: thefinderonline.com

Employ technology to grow your business – Tech expert to SMEs

Small and Medium Enterprises (SMEs) have been advised not to restrict the use of technology to just social media but explore other untapped areas under technology to promote their businesses.

According to Strategy Director of tech firm mPedigree, SelormBranttie, very often small businesses make a big mistake by using only social media to showcase their products but do not make use of other technologies to, for instance, receive feedback from the market they serve.

“There are a lot of tools that can help these SMEs understand where their businesses are going to that they don’t use because most people get social media and stick to it but there are important tools to build a business,” he noted

He added that: “Social media is very good for propagating messages and for advertising but it is also saturated to a certain point so you would always have to have a constant engagement which is normal but when we say technology there are so many tools that can enhance a small business like getting customer relations management systems, invoicing and financing systems, etc.”

Mr Branttie made these remarks at the Second Edition of the Busy SME Series organised by Busy 4G and held in Accra.

He was of the view that the spread and acceptance of social media and the ease of financial transactions makes it easier for new products and businesses to market themselves without going through the stress that others went through just 10 years ago.

“In the SME space, all that people have to do is to create products that are relevant to their target market and since the channels for communicating what the product does to the prospective consumers are there it means more and more people are likely to buy the product,” Mr Branttie explained.

According to him, Ghana's economy is still evolving and the country is richer now than it was before so more people can afford new products provided they are marketed well through the use of technology.

“Ghana’s economy is growing. As we are getting more educated and the socio economic scenario in the country is becoming more stable and predictable businesses are able to project better and customers are at ease to spend,” he stated.