National Small Business Week celebrates the critical contributions of America’s entrepreneurs and small business owners. Small companies and startups have thrived in the app industry since the beginning. They dominate the revenue rankings and drive innovation in the mobile economy.
The App Store model is the ideal platform for small companies. Their size allows them to be nimble and respond quickly to market opportunities. Since the store manages distribution, payments, and security, a startup can focus almost all of its resources on software development. This ease of publishing contributes to dramatically shortened development cycles.
These characteristics have fueled astronomical growth. A decade ago, it was inconceivable for companies to reach a billion-dollar valuation in less than ve years. In the App Economy, that has become common enough to spawn the term “unicorn.” For small companies, the app marketplace provides the ideal environment for rapid growth and innovation.