Emerging Trends Affecting Small Businesses

As CEO of Worldwide Express Operations, LLC, one of the nation’s leading outsourced freight and parcel shipping companies, David Kiger has developed an in-depth understanding of business trends. The following is a summary of some of the most significant emerging issues for small businesses in the year 2013 and beyond.

Businesses will need to learn to adapt quickly and efficiently and to demonstrate resilience in dealing with multiple and simultaneous changes. Companies that expect to thrive must develop flexibility, seeking out innovative opportunities to cut costs, grow revenue, and initiate new partnerships.

Today’s evolution of a highly qualified base of freelancers and other outsourced employees can result in greater efficiency and cost control, since businesses typically hire such workers for on-demand, time-specific projects.

The rise of “big data” – large sets of information about numerous aspects of an individual business and of the business environment in general – means increased opportunities for businesses of all sizes. These opportunities, however, come with an increase in the challenges involved in managing so much information. New online tools are becoming available as technology continues to attempt to meet demand.

Along with the proliferation of data comes the shortness of its useful life. The information, ideas, and best practices needed to run any business shift and change much more quickly than they used to. In order to stay relevant, business owners will need to abandon conventional wisdom and old habits and stay abreast of change.

In addition, social media have transformed relationships between companies and customers. Information about a company, both good and bad, now regularly goes viral, and managing expectations and relationships with customers online has become a major focus for all businesses.

Advertisements