With the economy in a recession, business growth is more necessary than ever in order for businesses to survive. Since most businesses are small businesses, it’s important to understand the latest small business trends and then use those trends to grow. The current projections for small business is that they will continue to grow throughout 2016.
According to Business Daily News, one of the biggest small business trends is that business will continue to expand across borders. With the internet, it makes it easier to offer products and services on demand and ship across borders directly to customers no matter where they are.
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Amine Khechfé co-founder and general manager, Endicia, said that this will also allow for same day delivery to customers.
“Many companies are entering the fold to compete for that last segment of a shipping route: local delivery, with the added advantage of offering same-day service. In 2016, small businesses should keep an eye out for new shipping technologies and services that will save time and money while offering a great customer experience, as well as opening up their goods and services to new markets.”
With the increase in technology and the portability of devices, it will change how human resources are managed because many workers will be able to work from home. The internet allows for workers to be more easily connected without being in the same location, and they can collaborate and work on projects because of current technology.
As previously reported in The Inquisitr , the number of devices connected to the internet will be around 50 billion. This includes computers, cell phones, and tablets. Workers will have the ability to become more mobile because of the availability of free wifi and smaller more powerful devices. Small businesses will be able to reduce their overhead by having workers work at home.
Because more customers are shopping online, businesses will be under a lot more scrutiny. Credibility is important to the success of a business, and so reputation management plays into the mix. Businesses will need to put on their best face and exceed customers expectations in order to get the sale.
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The Huffington Post said that small business trends for 2016 will also include new rights for workers . This change is so significant that it appears three different times in the top five trends for 2016. The emerging consensus is that there are about 50 million freelancers working at least part time. Because of it, new rules will need to be in place. Since the social safety net of family leave time, benefits and unemployment insurance were largely designed for full time employment, these benefits will be rendered inapplicable in the new marketplace.
Cybersecurity becomes a major issue as small businesses continue to expand. With the expansion of the internet and more small businesses using it to build and market their businesses, security becomes a primary issue because it becomes harder to protect sensitive customer data. With 60 percent of cybercrime directed at small businesses, small businesses need to take steps to make sure every element of their businesses, especially online, are protected from cyber attacks.
Another small business trend that is changing the face of small business is demographics. For a long time, baby boomers were the largest generation and dominated the small business landscape. As baby boomers continue to retire and sell their businesses, it has opened the door to millennials, who now number 80 million. Millennials will continue to start new businesses. With their differing attitudes, the way business is done will change as a result.
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