Internet has changed the nature of entrepreneurialism

Wednesday 5 December 2012

The internet is proving to be an extremely valuable tool for small and medium-sized business (SMB) owners around the UK, it has been claimed.

In an article for Bdaily, invention support business Innovate Design said the development of the web has revolutionised how new product infrastructure and interest is built up.

And in light of this, the profile of the typical entrepreneur is also changing, the firm said.

"Typically, 20 years ago, you would almost certainly need to be commercially astute or business-minded to be able to do the relevant research and development to get your idea off the ground," it stated.

"For new inventors, product designers and entrepreneurs these days, the goalposts have shifted."

Innovate Design said that by making use of the internet, it is now possible to research markets and ascertain whether an idea is unique.

This applies to both the commercial aspects of the company and also intellectual property, the firm said.

According to online accreditation provider Trusted Shops, small businesses can use the internet to drive significant revenue through ecommerce channels.

Some 11 per cent of consumers surveyed by the firm said they plan to spend more over the internet this Christmas, while 60 per cent will spend the same amount as last year.

Posted by Jenny Arthur