For small businesses, broadband can provide the difference between success and failure. Whether they are processing orders, working with suppliers, or building their own marketing content, the speed and efficiency with which businesses can perform these tasks translates into faster, more productive transactions. Broadband also offers cost-cutting strategies that can decrease operating expenses. By taking advantage of online tools, such as VoIP (Voice over Internet Protocol), teleconferencing, and online payment apps, broadband can significantly reduce the amount of revenue expended on communications and sales. Whether you own a one-person rural craft soap business or an expanding urban tech start-up, the tools and markets that broadband provides are essential to success in today’s business world.
There are additional factors that make broadband a necessity for business ventures. As internet speeds increase, websites and platforms adapt by expanding their size and speeds to utilize the added capacity. Those without broadband will thus find themselves increasingly unable to access and use other websites and tools. If your business lacks broadband, it will become less able to engage online customers, suppliers, and colleagues who utilize broadband for communications and services. Shopping for a good broadband package that meets your business needs is both a wise investment and a business necessity.
Even if you do have broadband, you may be unsure of how to leverage it most effectively to advantage. Data based on assessments done by Connected Nation suggest that having a website and using social media for strategic, targeted marketing are two factors that correlate with business growth and higher earnings. While simply setting up a website or an Instagram account for your business will not alone lead to increased sales, learning how to use these tools effectively to brand and market your business can help improve your product and widen your audience, leading to better brand recognition and increased revenue.
If you are a current or potential business owner, and would like to learn more, explore the links below from the the New Mexico Economic Development Department.