Top Small Business Trends for 2017
With 2016, we saw many small business trends appear and small business owners everywhere watched them closely. Some of these trends grew into successful business ideas, while others didn’t. For 2017, we see a new batch of small business trends, many of which could mean success for your small business. If you own a small business and you want it to grow in 2017, our list of the Top Small Business Trends will provide the insight you need. Here are the top small business trends you should be aware of for 2017.
With its oldest members now entering their early 30s, the millennial generation is reinventing the way businesses manage the workplace and its employees. Millennials also easily adopt new technologies as they’re announced, therefore erasing the adjustment phase every previous generation of offices has endured after a computer or equipment update. For entrepreneurs from the millennial generation, the ability to rapidly spread information is key to successful marketing.
- Web presence
The availability of Internet-based technology gives small businesses more control over brand development, marketing and customer engagement. Internet tools provide affordable and attainable solutions for small businesses in every industry. Reviews and testimonials, a business’s website and other public information play important roles not only in a customer’s decision to buy a product but also in whether they share that product with others online.
Online storefronts, which allow for the movement of electronic commerce, draw Internet users to the Web in masses. Online retail spending is on the rise in the U.K., and shipping fees are driving factors in customers’ decision processes. When presented with offers for free shipping, 58 percent of consumers say they are willing to add items to their virtual shopping carts to meet the free-shipping threshold. Simply offering a perk for shopping at your online store can mean more money in your pocket.
- Business Intelligence
Business intelligence (BI) software gathers fragmented data sets and translates it into information you can use to improve your business. BI has historically been used by large enterprises to curate, store and visualize what’s known as big data. The growth of Internet technology and big-data solutions make it possible for small businesses to take advantage of BI solutions. From knowing what your customers are shopping for, to understanding their spending habits, business intelligence software can help you grow your business quickly and easily without the hassle of doing all of the research yourself.
Which of the above small business trends is your company following this year? Which one will make your business more successful and create the growth you want for 2017?