After strong e-commerce sales during Black Friday, Jim Cramer explains how new technology enables success of smaller businesses

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CNBC Jim Cramer He praised on Monday Success During Black Friday, e-commerce merchants suggest that new technology and online services have helped small and medium-sized businesses turn a profit.

Kramer cited data from Shopify President Harley Finkelstein, he said. The e-commerce platform saw $4.1 billion in sales on Black Friday, up 22% from last year. Shopify helps merchants build online stores by offering a variety of services for around $39 per month.

Owners are empowered with new and affordable tools to help them succeed despite an economy weighed down by Federal Reserve rate hikes, Cramer said.

“This is not a shadow economy,” he added. “It is an economy that provides enough tools to change everything in business.”

There are many companies that allow small businesses to compete with larger companies by offering services like web design at affordable prices. Wix.comKramer said. Intuit It helps the owners with accounting, while Twilio It helps them to connect and communicate with their customers. Social media platforms also allow these businesses to advertise at a higher level.

“I could go on about all the new ways that running a small business has become easier, but the bottom line is that now you’re free to create something that someone else will buy,” Kramer said. “Thanks to technology, you have no artificial intelligence and it makes it much easier to find out what people want, which makes your business more valuable.”

Jim Cramer talks about strength in the retail market after Black Friday

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