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Setting Up a Small Business in 2020

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Mujumdar Shivangi

CBW -External Analyst

INDIA

Jan, 13 2021

Jan, 13 2021

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When you consider starting a business, the primary thing that involves the mind is money/capital. Of course, you would like money to start a business, albeit it's little or no considering the very fact how easy it's to start a business within the digital age. However, there might be many other factors that affect a business in today's digital economy. 

 

Blockchain affects all kinds of companies 

 

One of the most significant concerns for today's entrepreneurs before they begin a business is blockchain or crypto technology. The planet is seeing the increase of crypto technology, and it's being integrated into the prevailing business ideas. It was a touch quite a few years ago; you want to have heard the term "bitcoin". However, this is often faraway from truth. Blockchain is predicted to affect all kinds of companies and industries within the world within the coming days. 

 

It is a technology that redefines the many businesses' safety aspect in 2020, introduced decentralization and benefits the top consumers in multiple ways. For instance, you'll launch a gaming platform where nobody needs the prevailing currencies. You'll launch your platform together with your own money today. Through ICOs, you'll have investors from around the world invest in your idea. So, blockchain is certainly a consideration for all businesses starting in 2020 and therefore, the coming years. 

 

Physical Warehouses aren't Necessary 

 

A few years ago, only a particular sort of business might be called truly online businesses. For businesses where products need to be stored for a few time, an entire online presence wasn't the answer. Entrepreneurs had to possess enough money to possess their warehouses. However, this has also changed quite a bit within the past few years. With the thought of drop shipping becoming common with time, it's becoming easier for business people to start their businesses without much investment. 


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Mujumdar Shivangi

CBW - External Analyst

INDIA

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