Whenever you buy new office equipment, the tendency is to run it until it wears out to maximize the return on the capital investment. You cannot use the same approach with business software. Developers are continually updating software to fix bugs, address security issues, and add new functionality. Connecticut companies that fail to actively maintain their business software are leaving themselves open to risks as well as failing to take advantage of the latest technology.
Nothing seems to go out of fashion faster than the latest technology. Long before television sets stop working, computers crash, or smartphone batteries give out, they become obsolete and need to be replaced by the latest and greatest hardware with the new features. Even at your average Connecticut small business, obsolete computer hardware tends to clutter up the storeroom as monitors, workstations, and network equipment are upgraded.
Connecticut Yankees always have been innovators. Ethan Allen built the first blast furnace in Lakeville in 1762, which launched Connecticut’s cannon industry. Additionally, the Colt factory in Hartford is credited with the birth of mass production of firearms. Moreover, former Colt mechanics Francis Pratt and Amos Whitney were the first to develop precision manufacturing techniques when they created Pratt & Whitney. In short, Connecticut has a long history as the birthplace of invention and innovation. And today’s Connecticut innovators are still at work launching tech startups and creating next-generation products.
Connecticut is a great state for small businesses. We have a well-educated workforce and a strong labor market. We are close to major cities such as New York and Boston, and Connecticut’s personal per capita income averages $20,000 higher than the national average.
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