Cloud computing seems to be a game-changer for startups. It is making easier for new businesses to be agile, resilient and connected. Statista report reveals 39% of small and medium-sized businesses spent up to $600,000 annually on public cloud services last year.
Cloud computing offers new businesses on-demand access to IT resources on the basis of pay-as-you-go pricing. Some of the leading service providers are Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform (GCP). These tech giants allow startups to use critical technology services such as computing power, storage and databases over the internet. There is no need to buy and maintain physical data centers and servers.
Startups can cut hardware and maintenance costs. They enjoy the flexibility of scaling resources based on fluctuating demands. They can manage large amounts of data easily. The cost-effective infrastructure of cloud computing lets startups pay only for what they use. This helps in reducing heavy upfront investments.
A report of Asian Development Bank reveals that the cost of running basic internet applications dropped from about $150,000 per month to $1,500 from 2014 to 2020.
Cloud computing enhances remote accessibility. It simultaneously improves employee experience. It allows startups to operate from anywhere in the world. It helps in enabling remote teams to collaborate and access data in real time. The tools which help in working remotely include Slack, Google Drive and Notion. All these are hosted on the cloud. These facilitate seamless communication and collaboration. These helps in boosting productivity and efficiency while reducing operational bottlenecks.
The cloud infrastructure offers robust security measures too. It is often considered better than the traditional setups. Statista reports further reveal that 42% of respondents view cloud computing as more secure than traditional infrastructure.
