2016 Top 10 Trends for Small Businesses

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A recent article, Top 10 Trends for Small Businesses in 2016 by Susan Wilson Solovic says that the rise of technology has brought tremendous changes to the economy and the business world. Small business owners are always the first to respond to such changes.

Here’s a list of major changes and how they help small businesses become more productive.

  1. Cloud‐based services will replace traditional small business service providers. For example ‐ Software as a Service (SaaS) will replace the in‐house bookkeeper or local consultant and all the old models for payroll service.
  2. IT and data storage are moving to the cloud. This means a decrease in overhead by cutting IT payroll and hardware costs by farming out IT and data storage/backup services.
  3. Small business owners will use the services of online freelancers working from home or short term offices.
  4. Small business will become more strategic in their effort to hire and keep top talent. Owners will strive to create an online reputation as a great employer. They will offer increased flexible scheduling, more non‐medical and non‐traditional benefits, such as life insurance, health club memberships, unlimited vacation time, and more.
  5. More and more, smaller businesses will have no true physical location; they will be teams of individuals in coworking office space or shared office space located throughout the country.
  6. Online peer‐to‐peer lending providers, crowdfunding and payment processor‐based loans will replace traditional small‐business bankers.
  7. Instead of traditional sales and marketing, many small businesses/startups will start to define their long‐term growth and success in new terms such as that of “community building”.
  8. Local mobile marketing will be more small‐business friendly this year.
  9. Taking it old school, many small business owners will take a fresh look at direct mail strategies.
  10. Small business will do more marketing overseas with new free trade pacts. The Internet makes it easier to find and work with these foreign‐based firms.

Conclusion

With this list you can see how these trends are favorably affecting the way small business owners operate. YourOffice offers workspace solution that will suit your needs. YourOffice features a network of world‐class business addresses. Each location offers beautifully appointed day offices and team office space that are fully wired and ready for you to move in and start working.

How do these trends affect your small business? Let us know your thoughts. Feel free to visit us on Facebook and Twitter.