Innovation is essential for businesses to remain competitive in today's market, and the cost of technological advances is more affordable than ever. To make the most of your resources, it's important to understand what your company needs. The Hawaii Chamber of Commerce has identified several technological innovations that businesses in the state can leverage. Transformation is about changing the way state government provides programs and services to its citizens, businesses, and employees.
It goes beyond modernizing information technology and resource management systems, and looks at business processes and how programs are delivered to make them more agile, efficient, and effective. The State Treasury's Small Business Credit Initiative will support local financial institutions in lending funds to small businesses by reducing credit risk. The Department of Business and Economic Development (DBEDT) is dedicated to achieving a Hawaiian economy that embraces innovation and is globally competitive. Through the Hawaii Business Zone Association (EZ) Program, businesses can access useful tools such as networking, brand recognition, and business promotion. The Hawaii Green Infrastructure Authority (HGIA) administers the Hawaii Small Business Capital Program (HI-CAP) Collateral Support Program, which helps borrowers obtain financing that would otherwise be unavailable due to a collateral deficit. Transform Hawaii Government is a nonprofit organization led by Executive Director Christine Sakuda that advocates for improving government business practices through technology.
Automation can help small business owners make their operations more efficient. The Hawaii Technology Development Corporation (HTDC) is a state agency responsible for diversifying Hawaii's economy by developing a thriving technology industry. Acoustical Drywall Systems, Inc. is one of the fastest-growing small businesses in Hawaii. With digital marketing, cloud servers, machine learning, automation, and other tools available to entrepreneurs in the state, there are plenty of opportunities for businesses to take advantage of new technologies.
By understanding what your company needs and investing in the right tools, companies can stay ahead of the competition.
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