The last two years have been tough for all businesses. The pandemic has devastated many small and medium-sized businesses (SMBs) and brought down their revenue to a point that they were left with no choice but shut down their business. Many businesses redesigned, reconsidered and revamped their entire business models to withstand the pandemic challenges of remote working, zero motivation, lack of funds, less business demand and related supply, etc.
Among all the businesses, the worst affected were startup companies. Startups embody nearly 90% of the world’s reported businesses and employ 50% of the world's workers. They are regarded as pillars of the country’s economy, these pillars were shaken and forced to close their operations due to less revenue and work. However, many startups survived and managed to operate smoothly with good revenue; and this became possible due to cloud computing services. The technologies have proved to be a saving grace in this financial slowdown period. Businesses that invested in cloud were able to surpass the current pandemic; on the other hand, those who didn’t were affected badly. Today, the cloud has become an integral part of all businesses and the most sought-after solution for organizations virtually in every industry. As a result, all companies are leveraging cloud technology in the pandemic period. According to a research by Cisco, cloud will handle almost 94% of the business work within next 3 years.
Why are startups adopting the cloud?
Today’s startups are born in cloud; they are adopting the cloud, and building apps with innovative digital technologies more than ever. Startups are using cloud computing for many reasons than budget, such as flexibility, security and scalability. With cloud computing, a third-party vendor owns and manages the IT resources and leases them to businesses for use on a subscription basis. Any required changes or maintenance is the vendor’s responsibility. For example, if your startup needs extra bandwidth or computational power, it can be done through a simple request to vendors who will do it for you at amended subscription fees.