Anx Patel, CEO and founder of GoKart, on his experience of founding his app.
Technology and small businesses: they have an interesting relationship.
The democratisation of business technology has meant that small companies today have access to enterprise-class digital solutions. Furthermore, the efficiency, affordability and simplicity of popular digital tools such as Quickbooks and Slack have enabled agile startups to compete with larger firms on a more even playing field.
At the same time, high-growth technology businesses also pose a risk to SMEs in the same industry. Take the hospitality sector as an example; the rise of Airbnb has resulted in a sea change in the way consumers search and book holiday accommodation. As a result, many independent hotels or bed and breakfasts have struggled to find customers, with a Morgan Stanley report [pdf] showing that 42% of Airbnb users have replaced a traditional hotel stay with an Airbnb property....