New SMBs in Business Tech Set to Be 'Next Big Thing' as Health Care and Energy Fade
Virtually all of the world’s largest and most successful businesses were small businesses to start with. It was likely through hard work, and a passionate team, that their small businesses were able to survive, thrive, and grow. Indeed, every business, including yours, had to go through the startup phase in order to get where it’s at today. The term “startup” has also changed in its meaning over the years. In pure business jargon it is just a new business but depending on when you grew up, most people will now instantly think about technology and silicon valley when they hear the term “startup” Indeed, as America transitions to a more technologically and internet dominated society, the majority of new small businesses will be in this field. Further, any new companies not focused on technology will need to shit the way their business views the world or they could risk getting left behind or extinct like the dinosaurs. Moreover, as new technologies pop up faster and faster so too does the ability to learn whether or not they will likely succeed or not with their venture.
Another trait of new startups in the technology field, especially for those that are internet and mobile software development focused, the barriers to entry are much smaller than in other fields. All a programmer really needs are computers, coffee, and cigarettes. Of course I am exaggerating but the costs are much less than compared to starting up a restaurant for example which needs, property (with location being important), cooking equipment, specialized staff (chefs, waiters, etc.) and a myriad of health code regulations. All of this leads to why more and more people are switching to tech based startups and software engineering is one of the most popular college majors at universities nationwide. As we stated though, this field does not guarantee success but for a glimpse of the future here are the 50 start-ups that the Wall Street Journal believes could likely be the next big thing. You’ll notice they are not all specifically tech or internet focused companies but all of their ideas rely on cutting edge innovations. They continue, “Venture capitalists are still investing in flashy Internet start-ups, but the "Next Big Thing" is more likely to be a maker of humdrum Internet plumbing for businesses. The Wall Street Journal's third annual ranking of the top 50 venture-capital-backed companies shows a crop of contenders that overall are focused less on online consumers than in years past.
The top three ranked companies are all business-product makers: Genband Inc., a supplier of voice-over-Internet-protocol technology to telecom companies; Xirrus Inc., a provider of wireless networking equipment; and Tabula Inc., which makes semiconductors for electronic products. Several other companies on the list offer products or services designed to help businesses run more efficiently, such as data-storage company Nimble Storage Inc. (No. 26) and business-analytics software provider Marketo Inc. (No. 20), cloud-computing services provider Appirio Inc. (No. 29) and wireless networking company Aerohive Networks Inc. (No. 37)…”
Source - WSJ