If ever asked to draw a line of distinction between small and large-scale enterprises, we may often land up talking just about their investment and funding size.
Very few focus on the survival and growth scenario. As per the report of SBTA (Small Business Trends and Alliance), only 31% of the small start-ups survive for a decade or more, the rest fails to survive even for a year or two. As observed in the current regulatory scenario there exist several magnitudes to this apart from financing.
These are slow recruitment of ancillary services, poor payment processes, lack of self-reliant data structure, and unambiguous security and storage protocols. So, now what’s the solution to head towards a better growth scenario? This certainly has to be a proficient application of blockchain technology in the operational structure.
The wings of blockchain can be attached to any form of business be it online or offline. In today’s competitive world blockchain has emerged as a wonderful tool to let business fly higher and longer.
Conclusion
Blockchain automates several ancillary services that ease out the execution of several operational activities. With the right technology and practice in hand, the small companies find great support and hope in this smart contract-based technology. So.let your business make the best deal with the blockchain technology in action.
