United Kingdom poses immense growth opportunities for tech startups and the future is bright for E-commerce.
The executive chairperson at Alphabet Inc. Mr. Eric Schmidt is of the opinion that the United Kingdom is the leader in terms of global E-commerce instead of the United States. He is of the opinion that the regulatory scenario in the UK along with the role of authorities within the European Union (EU), has assisted the company in making a sound mark in the tech fraternity. During an interview to the BBC Radio 4, the executive has reiterated that there will be no difficulty for technology startups to establish themselves in UK
The executive has stated that the region has no hindrances to establish its operations throughout Europe which is bigger than its operations in the United States. However, the entrepreneurs in Britain need to take out a bunch of leaves from the page of their American colleagues. At this point, the thing of immense concern for tech based startups is to not get tempted by bids in its businesses infancy stage- a thing quite popular in the United States. According to him, it is a good idea to postpone the takeovers by tech giants in order to experience better growth.
Apart from this, if someone wants to establish a strong brand, the entrepreneur needs to streamline his focus on the quality of products as their major area of growth. The in house production is the ingredient to success for any startups since those businesses that are not dependent on third party designers tend to perform better.
The social media is a great tool that can be used smartly for promotions and advertisements claims the executive at the search engine giant. This will help the startups to minimize expense on hefty marketing campaigns. When it comes to funding, a group of three entrepreneurs can pair up for a project and then take the vision forward to their close ones. On the other hand, there is also another option to approach crowd funding platforms and venture groups.
The United Kingdom has a significant edge when it comes to competition from its Europe based rivals in terms of E-commerce. The continent at this point of time is coming up with a consolidated digital market and till the time United Kingdom makes its own E-commerce startups, the remaining part of Europe will then develop a unanimous digital market platform so that they can retail their products.
Hence in a nutshell, United Kingdom poses immense growth opportunities for tech startups and the future is bright for E-commerce.
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