Many entrepreneurs are using the internet to start-up new businesses on a shoestring. For example, Tom Nicholson recently launched his guaranteed rental scheme business Fixed Rent and sourced wide range of suppliers through PeoplePerHour.com to rapidly turn an idea into a going concern.
“I can’t imagine starting a business without the internet,” says Mr Nicholson. “In the current economic climate, the ability to find experts online quickly and cheaply has been pivotal to my business’s early success.”
It isn’t only start-up businesses that are effectively harnessing modern technologies. Established businesses are making dramatic cost savings by reverting to a virtual’ business model.
For instance, until 2006 telemarketing consultancy Answers and Solutions had ten fulltime employees and a Maidstone office. The company’s founder Richard Romain realised the internet enabled him to operate the business virtually • employing remote freelancers sourced through PeoplePerHour.com and operating entirely online. Overheads have been cut by £80k per annum.
“Small business owners are constantly advised to keep costs to a minimum in times of economic downturn,” says Mr Romain. “The advent of the internet makes this painful process so much easier than in any previous recession.”
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