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For a theoretical inquiry into the course of civilized life as it runs in the immediate present, therefore, aud as it is running into the proximate future, no single factor in the cultural situation has an importance equal to that of the business man and his work. This of course applies with peculiar force to an inquiry into the economic life of a modem community. In so far as the theorist aims to explain the specifically modern economic phenomena, his line of approach must be from the businessman's standpoint, since it is from that standpoint. | INTUIT FUTURE OF SMALL BUSINESS REPORT SECOND INSTALLMENT TECHNOLOGY TRENDS AND SMALL BUSINESS The Intuit-IFTF Future of Small Business Project About this Series Small businesses are an important and growing driver of U.S. economic growth and dynamism. They employ over half of America s private sector workers produce over half of America s non-farm private GDP and create roughly 75 of new private sector jobs. The next decade will see the growth of small business continue and the social and economic impacts of small business increase. The last decade has seen substantial growth in the small and personal business sector of the U.S. economy and technology has been a major contributor to this trend. The growing digital infrastructure has reduced the costs of starting and running a small business lowered competitive barriers opened new markets and industries to small businesses and led to the creation of new and often disruptive business models. Despite the positive contributions technology has made to small businesses over the last decade the hype surrounding the benefits of new technologies often exceeded the reality. In many cases technology was not mature enough technical infrastructures required for success were not in place and new technology was simply too complex to be easily deployed or used. To better understand this important segment of the U.S. and global economy the Institute for the Future has undertaken a research project to identify analyze and forecast the significant trends and forces impacting small business over the next decade. We present our findings in a series of forecast reports. This report Technology Trends and Small Business is the second in the series. The first report described demographic and social trends that are impacting small business and the third report will cover trends related to industrial structure and economic decentralization. The reports and related research are available at www.intuit.com futureofsmallbusiness. The next .
