Fur Trading, Lumber, High Tech and Ottawa

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Like fur trading and the lumber industry,  the Ottawa high tech industry is well on its way into the local history books.

For several years now, people around town have increasingly talked about tech in tones of warm remembrances of past glory rather then excitement about present and future possibilities.

I don’t believe Ottawa high tech will ever reach the halcyon highs of the past – those days are gone and never to return.

I do believe that Ottawa high tech will continue to exist – but in a much different form and with an increasingly smaller economic contribution to our region.

With an increasing number of local tech workers joining the jobless ranks – most with limited prospects – Ottawa is likely to see a temporary boom in the growth of local microbusinesses. These new microbusinesses will include some focused on tech, others in more traditional businesses such as services and contracting.

Some examples of microbusinesses that might develop in Ottawa can be inferred from  microbusinesses that have been generated by graduates of training programs at Microbusiness.ca (view here).

So what exactly is a microbusiness?

A microbusiness  is a small business or enterprise with less than 5 employees and little access to commercial banking.  Microbusinesses are typically side-businesses run from the house or via the internet. Starting a microbusiness is often a possibility for many people, due to low start-up costs, however profits generated from many microbusinesses vary immensely.

Microbusinesses often employ inexpensive micromarketing techniques to promote their products, services, and microbrands within a specific microsegment of the market.

Micromarketing is the practice of tailoring products, brands (microbrands), and promotions to meet the needs and wants of microsegments within a market. Micromarketing is all about digital content and innovative ways of distributing it.

A microbrand is a small-scale brand recognized only in a certain geographic location (e.g. city) or by consumers in a specific micromarket or niche market.

A microsegment is an extremely precise division of a market which are the focus of personalized direct marketing and promotion campaigns. Each campaign is meant to target and appeal to the specified tastes, needs, wants, and desires of the individuals that make up the microsegment.

In the high tech world  the question to reflect on is:  What opportunities are realistic for an Ottawa-based microbusiness to attack and expect success?

More on that topic in a subsequent post.

References:

http://en.wikipedia.org/wiki/Microbusiness