How Technology is Advancing Global Entrepreneurship and Globalization

The idea of globalization has been commonplace in recent years, however advances in the way that we conduct business is truly changing the global landscape and the way that we think about our “local” economy. E-Commerce and Software as a Service (SaaS) are revolutionizing what consumers buy, how they buy, and the reach of businesses around the globe to anyone with access to a mobile device or laptop computer.

Advances are being made in remote villages in Africa and Latin America where the power of a mobile phone can determine where a local farmer can sell their crop for the best price at the best rate. This increases the price of commodities and fundamentally changes the economy of that community from a local marketplace to a regional one. Money Lending and Crowd-sourcing sites are giving the ability for global entrepreneurs to start and succeed in their small businesses in everything from software, to textile production, finance, and education. SaaS based training courses from elite universities such as Harvard and Oxford can be presented to students in India, South Africa, Brazil, and classes all around the world. According to Startup Stats (http://www.startupstats.com/), some of the leading cities around the world for startups are Dhaka, Bangladesh, Sao Paulo, Brazil, and Sydney, Australia.[1]

The rise of SaaS based startups in Israel and India are becoming a competitive force to some of the most established brands in the world. Previously, leaders at major technology firms would benchmark against larger, more establish organizations. Now in the age of “Disruptors”, multinational corporations are competing with startups in an environment where selection, price, service, and user experience all can be accomplished with a mobile workforce and an online presence. A global economy brings global competition in all forms including business ideas, workforce, strategy, and innovation. Supporting global entrepreneurs and global growth is quickly becoming commonplace. The next major global corporation can begin with someone who technology has provided the ability to access education online, start their business using crowd-sourcing, grow their business in the mobile age, and easily accept payments in all major currencies. Technology and Globalization will truly drive the next wave of innovation, entrepreneurship, and agility.

[1] Business Insider (2105, April 14), Find the Best Country for Your Startup, http://www.businessinsider.com, Tweedie, Steven, http://www.businessinsider.com/startup-stats-find-the-best-country-for-your-startup-2015-4How Technology is Advancing Globalization

By Angeley Mullins

October 2015

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