Opportunities Aplenty In The Digital Economy

The digital economy is building an exciting world by creating jobs in new areas and old industries. But it is also creating opportunities for entrepreneurs and small businesses that want to cluster and grow.

Digital Economy

The digital sector is dominated by new technologies, which makes it different from other areas of the economy as it is driven to develop faster and look for new skills.

Such skills, because they are new, are in scarce supply and therefore attract salaries higher than the norm.

The demand has led to calls for schools and universities to embrace coding and computer science as core elements within the curriculum.

Parents too are recognising the value of teaching children new skills to ensure their future when looking for a job or starting a business.

The digital sector is expanding to envelop the whole economy and many digital jobs are already in traditional businesses as every part of industry is touched.

As a result, the new economy is growing faster than the rest of the economy as it creates jobs in cities and towns that would otherwise suffer from population drift.

The opportunities of the digital economy are plenty and this is likely to be the case for many years as new businesses are invented and old ones reinvented.

The shift to digital is as important as any previous economic revolution, as it is transforming more sectors in more fundamental ways than ever before.

Digital technologies

Digital technologies are changing many areas that include computing, data, education, finance, gambling, gaming, health, internet, marketing, media, music, pharmaceuticals, security, software and telecommunications.

Government and an array of business bodies support the swing to digital and believe more can be achieved by using technology at all levels of society.

The growth of digital is closely associated with the growth of entrepreneurship too, as they spark off each other in a frenzy of creative construction.

The digital economy enables greater numbers of entrepreneurs to start new businesses, as it is driven by ideas and skills and has low barriers to entry.

Given such a complementary combination opportunities abound, as creative technologies and creative entrepreneurs fuse to shape new businesses.

Clusters of like-minded people are forming too, such as Digital Omagh – a network of people and businesses working in the digital economy.

These clusters provide support networks, access to finance and much more to entrepreneurs and small businesses that want to meet others and learn.

They also act as sounding boards to capture the voice of business in a way that feeds back to and influences government thinking and policy.

Such clusters highlight the benefits of working together and the rewards of sharing experience and expertise amongst like-minded and curious people.

So, the digital economy is growing quickly and creating opportunities for entrepreneurs and small businesses that cluster together and learn from each other.