“We have a clear vision of new required functionality of our new product, we need a partner to transform our idea into a market-ready solution in a specific timeframe to meet our investment criteria ”, — says the young voice during the Google Meeting. “How familiar it sounds, the issue is clear and we know how to help you in achieving your goal and bringing your idea into a market-ready product”, said the project manager. This is how the day has been started.

Do you know how many startups there are estimated in emerging markets around the world? The number is significant and goes up to 445 million. It’s already a fact that small and medium enterprises represent more than 90% of the business population, account for up to 70% of global employment, and responsible for over half of the GDP in developed countries. The numbers are even more expressive talking about the European Union, where 99% of all businesses are classified as SMEs, and almost 21.5 million (90%) small businesses are operating in USA. The numbers are so significant because nowadays it has become very easy to start your own business. According to the U.S. Small Business Administration, most microbusinesses cost around $3,000 to start, while most home-based franchises cost $2,000 to $5,000. 

Our team has shared our own experience about the difference between Startup and Enterprise Software Development for Forbes.

Among some technological tips and difference between the approaches, we also noted the difference between generations and use of technologies. “The survey says, that lagging behind in technological adoption are Baby Boomer small business owners who are less likely to feel like they are ahead of the pack (22%) compared to Millennial and Gen X-owned businesses (30%).” “Generation X, people born between 1965-1980, is the middle age of owners of some enterprises. The lack of Internet during their lives made them different in sense of conducting business, relationships and use of technologies. Pew Reasearch Center says, that Gen X use of technology is 12%, while millennials 24%.” You can read the full article here.

The Bottom Line

Digital Transformation is enforcing any sector and any business and nowadays it’s obvious. That’s why it’s so important to take this opportunity for your company growth. You can read more about Digital transformation here. And remember, we have a deep industry knowledge of implementing the various technological solutions in many industries. If you have more questions, you are welcome to contact us via email info@fortyseven.com or via phone +44 2 071 013 530