Business is changing. Yes, the past 50 years have seen change in business from brick and mortar store fronts to online purchasing domination. But the new changes are surprising, even the experts. As small businesses grow in record numbers to almost 30 million this year, their power can be felt through all levels of the business world. Add the ability for an online presence to dominate with a limited cash expenditure, and you can find hidden power in even the smallest business enterprises. Here are some ways that businesses will be changing in the coming decade.
Workers are leaving the office in record numbers to work from home. Attend meetings virtually, and work in the cloud on group projects. Once employers believed workers would take advantage of their ability to work from home by being lackadaisical, but the opposite has proven to be true. Research shows at-home employees work 9 hours or more a day.
2. Automation Business
Technology brings new surprises every year to the business world, and one of the best advances for small businesses is automation software. From email marketing to accounting to customer service, hence the processes are leveling the field of business for small companies. Eyal Gutentag believes businesses are going to be challenged to scale faster and more globally, and automation is allowing small businesses to do just that.
3. Gen Z
The business world has suddenly become aware of the 86 million consumers that comprise Gen Z. But how they will impact sales in the coming decade. With estimates that more than 40 percent of sales will be to the Gen Z population in 2020, it is more crucial than ever before to understand how to interact and sell to the important group.
Numbers of small businesses are continuing to grow, and as technology allows them to improve sales capacities. The emerging trends may find them taking over the world. One thing is for sure, hence small businesses can no longer be ignore.