The concept of business has been around for a long period of time, when it comes to running a business, is running a business a lot easier in our present time than it was back then? Personally i feel it is a lot easier to run a business presently, this is because there are so many tools one can use, even to the point where you do not have to physically be around but can still monitor what is happening in your business.
Is running a business a lot easier compared to years back?
- Thread starter eldavis
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Running a business nowadays seem to be more difficult than how they run business before. This is because the rate of competition is very high and you need to stand on your toes if you want to be successful
It is relatively easier if you consider the home court advantage. Where you can sit at home and with automation set your business to work without you being physically present.
Running a business in this modern day has been a lot easier compared to the past where people travel long distances just to deliver a product and also communication has been poor then too which has now become much easier.
In my opinion, running a business today has pluses and minuses. The plus side can be said to be easier because of the many supporting facilities, such as the internet, laptops, computers, cell phones, etc that can be used to develop an online business. But there is also a downside, that is, there is a lot of tough competition from competitors, so we have to be smart and creative in running a business.
Nowadays inflation has made it really hard for many people to conduct the business in a really effective manner. In the past, this was not the issue. Before the 2008 economical crisis, many businesses were booming a lot.
2008 I was not familiar with business, because I was still a childhood school age. So haven't thought about making money yet. LOL In my country, they said they had experienced a monetary crisis around 1998-1999, at that time the economic conditions were very difficult. Food prices soared, money was hard to come by. But once again my parents told me, because I was young, I didn't know anything.
Businesses are made easier this time compared with the past businesses because of technology. We can do businesses both online and offline. In the past businesses were stick on its traditional way of selling, but they're happy doing business that way. After all, there's money.
In this digital era, with the availability of internet, and other automated tools, running a business is easier. That said, it doesn't mean that you can make profits easier because the barrier to run a business is low, many people can start and run a business. Competition is fierce. You need to be innovative and good at business management to succeed.
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You have a point there though, there is high level of competition , but back then i still believe competition exist , i only feel it is a lot easier for these persons to compete with one another.
Even though nowadays it seems easier to run a business, and we don't need to leave the house just to monitor production, or purchase raw materials, the current level of business competition is more, so we must be able to compete and provide the best products.
The running of the businesses nowadays is very much complicated and more difficult oflate than in the olden days. This is because of the inflation that has caused the increase in the prices of all items for the business capital.
You can make payments from your house and a product gets delivered for you. You can also go online and shop without having to leave your house. It is easier to do business now.
Well that's a bit hard to compare as they both have different advantages and disadvantages.
Now in Nigeria we have equipment which makes it easy, but when it comes to profit I would say it was better than as we have a bad economy system now
Now in Nigeria we have equipment which makes it easy, but when it comes to profit I would say it was better than as we have a bad economy system now
Business is much easier to run now. Take for instance, recruitment of staff. You would have to go to a newspaper to place a vacancy advert. Nowadays, a social media post is enough for you to run recruitment for your organization.