Time to Startup!

The BizFilings blog covering business tips and trends.

Small Businesses Benefit from New Technologies, but Risks Remain

Published on Nov 22, 2010

Summary

Read 'Small Businesses Benefit from New Technologies, but Risks Remain' at 'Time to Start Up,' the small business blog by BizFilings.
Forming a company can be a difficult and even intimidating process when it comes to time spent conducting research and sorting through paperwork. That's why many small businesses and startups are looking to new technologies to help alleviate the more burdensome aspects of running a business. For example, a report from earlier this month found that U.S. small businesses have bought more than 2 million Apple iPad tablet computers - an adoption rate of 20 percent. With mobile payment technologies expected to begin saturating U.S. markets, small businesses can expect an additional tool for measuring data, as mobile payment devices that allow customers to pay with their phones can easily store and transmit inventory and consumer spending data. What's more, the U.S. smartphone market is expected to grow by 55 percent in 2010 over 2009, according to a report by Techaisle. But small businesses should be aware of some of the risks involved with smartphones and many other mobile technologies. Smartphones are particularly prone to attacks from cybercriminals, and these attacks are expected to increase as the mobile payment market expands. "Traditional methods for countering such attacks in a mobile environment are not yet very effective," writes Alice Magos for the Business Owners's Toolkit. "New measures are emerging at a slower rate than new frauds are created by today's digital criminals. Until technology catches up with the crooks, smartphone users must be extra vigilant and suspicious of anything that doesn't seem just right." Although certain tasks can be made easier with the help of today's smart technologies, small business owners should be cautious when using them for tasks such as online incorporation.