SMES have the opportunity to innovate in new sectors
I think smaller companies have a great opportunity in new sectors like transport and health which perhaps traditionally have been very difficult to break into, and I think you obviously see the advent of wearable technology.
I think the key point here to support those small companies is what can the government do to release data? We, I think, have been very good at releasing data in transport, for example, which has allowed small companies to create very user friendly apps.
I always like to point out that I get on the tube and go to work or get the bus and go to work, I use apps like Bus Checker and that is a service that I used based entirely on the fact that Transport for London has made that kind of data available.
Similarly in the healthcare market, being able to monitor your own health using a range of different tools, but also importantly for health professionals to be able to monitor you if you’re at home with a chronic condition are huge opportunities.
And again, I think small businesses have a real chance to break through here because they are more nimble and more flexible so they can start, as it were, from year zero and say “If I was doing this now, what would I do?” and create a very user friendly application, whereas a bigger company actually might find it more difficult to change its mind set.
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