With the cost-of-living increasing, interest rates on the rise and the threat of global inflation, it’s a daunting time for small business owners. Without the rainy-day funds, resources or expertise of bigger businesses, economic pressures often hit small businesses the hardest. In the face of these economic challenges, investing in technology can feel like a luxury at a time when it has never been more essential. Fortunately for small businesses, technology is becoming more accessible, affordable and user-friendly than ever before.
Low-code, no-code allows small businesses with no coding experience to quickly and easily create business applications. It enables small businesses to custom-build apps and solutions tailored to their business, rather than retrofitting their operations to expensive, off-the-shelf solutions. Crucially, this democratised form of technology empowers small businesses to build powerful, sophisticated technology, but without the price tag.
But what is low-code, no code? How can small businesses benefit from powerful technology without breaking the bank? And why is technology investment more important now than ever?
What is low-code, no-code?
Low-code, no-code software is a development platform that allows users with no prior coding experience to quickly, easily and cost-effectively create essential business applications without having to write lines of code. Low-code, no-code is predicated on giving powerful technical capabilities to businesses who couldn’t previously afford it.
Small businesses, like yours, can use low-code software to automate, manage and customise apps through a process as simple as drag-and-drop without having to pay a premium. Because low-code enables you to build entirely customised apps and solutions, it can increase resilience, innovation and operational efficiencies, even as economic pressures loom.
How can small businesses benefit?
Because it is entirely customised, use cases are potentially limitless. Gartner forecasts suggest that, by 2024, as many as 80 per cent of products and services will be built by people without technology backgrounds using software like low-code, no-code. If you’ve ever found yourself thinking “I wish there was an affordable solution for that”, that’s where low-code, no-code comes in.
For example, a restaurant can use it to build a reservation automation function or a small manufacturer could use it to create a solution to effortlessly manage their shipment, vehicles and drivers. Before, small businesses were forced to either forgo this technology or buy expensive solutions – neither of which are conducive to short-term financial health or long-term growth. Instead, low-code, no-code platforms ensure businesses don’t have to compromise on strategic investment in technology because of macro economic pressures.
Why it has never been more important to invest in tech
Many business owners will, understandably, be determining where costs can be saved to offset the impact of economic pressures and cautious consumer spending. Technology might feel like a ‘nice to have’ but has never been more essential. While consumers might be more considered in their spending, they still want convenient, efficient and personalised experiences from businesses.
The businesses best placed to provide these customer experiences, improve efficiencies behind the scenes and mitigate the impact of economic pressures are those who invest in technology. Platforms like, for example, Zoho Creator, have been built to democratise technology. Through it, small businesses in any sector can build the apps and solutions they need to grow and thrive long-term, without overextending themselves financially in the short-term.
The economic headwinds many businesses are facing today are significant, but they do not have to come at the expense of innovation and investment. Just as technology helped small businesses overcome the short-term impacts of the pandemic, through low-code, no-code, it can also help them overcome the medium- to long-term impacts too.
