By Daniel Hunter

Setting up a business is becoming cheaper and easier across the world — as entrepreneurs unite in utilising the power of the cloud.

The cloud helps small business owners fulfill one of the greatest necessities of modern entrepreneurship - flexibility.

With information stored in the cloud, it can be accessed from anywhere, and by all the people who need it.

For instance, financial management can be simplified as business owners and accountants have instant access to the company’s financial information to review and check things in real-time without having to constantly shuttle documents and spreadsheets back and forth by email.

Software like QuickBooks Online, which launched globally this week, is helping entrepreneurs across the world run their businesses more efficiently, and make time to improve their bottom line.

The cloud computing industry, calculated at $40 billion two years ago, is set to increase six-fold in value by 2020, and a recent survey showed that 64% of SMEs worldwide use at least one cloud-based service.

Compared to the USA, where the average cost of setting up a business is $675 (£415), entrepreneurs in South Korea can get started for as little as $36 (£22), according to a recent infographic by Intuit.

And the flexibility offered by the cloud for data storage is playing a significant role in aiding the global march of entrepreneurship.

Entrepreneurs are getting out from behind their desks, and freeing themselves up to build brands, as technology developments like cloud computing revolutionize the way the world does business.

Join us on
Follow @freshbusiness