The technological transformation is helping give shape to a modern economy.  One of the most influential developments being cloud-based software and cloud computing.  Disrupting established employment practices and driving a period of incredible innovation are forcing the change.

            37% of small businesses have completely integrated cloud software into their daily business operations.  That figure has risen from 14% since 2010, and is growing exponentially as the benefits of decentralization computing resources become more and more evident to small business owners and entrepreneurs. 

            Access to endless amounts of business software with functions ranging beyond accounting and marketing means that smaller businesses and entrepreneurs can now realistically compete with industry leaders.  It enables employees to effectively work from home and form teams with coworkers all over the globe. 

            The result of high unemployment, due to repercussions of the financial crisis, has created an explosion in the entrepreneurship sector.  The highest net growth of jobs in the United States since 2008 has come from companies that have existed for less than 3 years, many of which have been leveraging cloud-based technology to operate their businesses. 

Cloud based technology will effectively cause growth in these four areas of usage:

1. Small businesses and entrepreneurs utilizing business services provided by third parties.  This means increased specialization from small businesses who will try to perform a single function more effectively than their larger competitors do. 
2. Freelancers who operate in multiple positions and business owners with second jobs.  The ability to maintain a constant online presence and automate or outsource many of the day-to-day functions of a business allows users to pull in income from various sources.
3. Business recruiting remote workers from around the world to complete team projects and then disbanding those teams.  Being able to quickly receive and offer contracted work from a pool of employees that spans the globe means increased project efficiency for businesses everywhere.
4. Small businesses under 10 employees competing directly with huge companies.  This trend has already begun and is perhaps most notable in the investment banking sector where there are major players known as “kiosk banks” which are effectively competing against some of the largest banks in their industry.