Over the years there has been a rise in entrepreneurs and small businesses. So far 2016 has become a promising year for small businesses because of the developments in technology, the ingenuity of the Y-generation, eCommerce and an online presence. All these trends have thus far allowed small businesses to grow and develop their products and services. New trends are developed every year and the afore mentioned have been the leading trends for 2016.
The developments in technology have spanned from easy to use software to secure online payment methods. Small businesses have access to technological tools that will help their business not only stay competitive, but also thrive in the global buzz of economic activities.
There is increase in the influence of the millennial generation also known as the Y- generation has significantly impacted the way small businesses approach client/business partner engagements in 2016. These are a group of young people that prefer quick, immediate interactions which is a by-product of how they effortlessly adopt new technologies as they’re announced, therefore erasing the awkward adjustment phase every previous generation of offices has endured after a computer and equipment update. This preferred way of doing things has also created a new strategy for marketing in that information is rapidly spread with ease and reaches larger audiences than in previous generations.
Online stores, which allow for the movement of electronic commerce, draw Internet users to the Web in masses. Retail spending is on the rise and shipping fees, time-saving and convenience of eCommerce are driving factors in customers’ decision processes. Small business can now have a global reach without even leaving the boarders of their own countries and can now compete on a global arena.
Finally, creating an online presence has become imperative for the growth of small businesses. What better way to create an online presence than the use of social media? Small businesses have in 2016 partnered with social media strategists because of the realization that social media is cost-effective and a real-time marketing tool.
2016 is the year of growth, a year for the small businesses to reach new heights and thrive in this fast paced, globalising socio-economic environment. The new developments in technology and the ease by which any human mind can access tools that previously were skill-locked has created a platform where not even the sky is the limit- hell there is no limit.
