Stephen Hemmings – Tech sector specialist
The world has changed and the rules of doing business have altered in a way that favours the bold.
For tech entrepreneurs nurturing their latest business idea, the changes have come at exactly the right moment. The age of digital disruption is enabling individuals to challenge traditional business thinking and transform established mature markets swiftly and irrevocably.
You only have to think Uber to see how the invention of a simple app has changed the way people take taxis in the UK and around the world. Widespread consumer take up has allowed the business to grow rapidly and traditional taxi business models are becoming obsolete. The brand is making headway in other markets too.
Similar examples of disruption are everywhere. In fact, it is difficult to find a marketplace that has not yet been exposed to some form of digital disruption. In the accountancy profession, for example, a cloud-based accounting platform called Xero has replaced the need for traditional software-based systems.
For new start-ups, gaining access to such technologies can give them an early-mover advantage, whilst others may be hampered by legacy systems, which prevent them from making the transition to a software as a service (Saas)-based model as quickly.
Where are all these disruptive ideas coming from? Some might be coming from dedicated coding teams within established, innovation-led companies, working to specific research briefs. The vast majority, however, are more likely to be tech-savvy entrepreneurs working at home, or in a co-sharing work space just around the corner.
To make an impact, these independently-minded entrepreneurs prefer to go it alone rather than opt for the protective environment of an incubator or accelerator programme.
They want to develop their business ideas in their own way, on their own terms and in their own timeframe; seeking the support of people they know and trust as things develop.
To be successful in the future, these free-spirited entrepreneurs must find a way of staying focused on developing their business ideas, whilst adhering to sound business management principles.
Technology business service sector advice
We advise finance, fashion, marketing, clean tech and property-related technology businesses, in particular.
We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.
“Today’s independently-minded tech entrepreneurs often prefer to go it alone rather than opt for the protective environment of an incubator or accelerator programme. They want to develop their business ideas in their own way, on their own terms and in their own timeframe; seeking the support of people they know and trust as things develop.”
Stephen Hemmings