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5 Trends Changing the Small Business Future

A small business is considered to be any company that
employs less than 100 people. Today, in the U.S., small businesses employ over
half of the country's workforce. Many people think that industrial giants are
the most important factor in driving the economy, but small businesses are
actually on top. Without small businesses, where would half of the country
work?  
Small business in America has been the stabilizing force in
the economy. Entrepreneurs are the backbone of creativity and production. Small
business is what stimulates economic growth. With over 60 percent of all private
sector jobs coming from small business, it is a proven fact that small
businesses are critical to the economy.
Looking into the future, here's a look at five
trends
, according to Laurel Delaney, a world-renowned global small business
expert, that are reshaping a very bright future for small businesses.
Innovation
It's a way to thrive in a complex and connected world. We
have to accept this, master the disruptive breakthroughs as fast as possible
and stay ahead by making optimum use of its capabilities for growing small
businesses into global powerhouses. SMBs that are poised to come out of tough
economic times on top will be those that learn how to use innovation to drive
growth and productivity.
'Just like entrepreneurship is not for the weak at heart,
innovation isn't either, for it requires risk, a tolerance for failure and the
ability to make a move on every brilliant idea that flies across your desk,'
wrote Delaney.
Technology
Today, we need technology for continuous change
and affordability. It has never been easier to test ideas quickly. For
instance, mobile gadgets too will continue to get smaller and more powerful,
bolstering the case that going global will be a prerequisite for long-term
success.
In addition, cloud computing, the next new growth
environment will play a big role for SMBs in application delivery. Someday, not
too far off in the future, customers anywhere in the world with a mobile device
will be able to text you their next big container order.
Global Entrepreneurship
Because the economic environment is so bad, the only thing
you can count on in life is yourself, so everyone will not only think about
whether they have the skill set for entrepreneurship but will jump
into it as a new way of life.
She wrote, 'Combine that mindset with the use of innovation
and technology, and a heavy dose of determination to change the world, and
you've got the ingredients for a global entrepreneurial revolution '
a force not to be reckoned with.'
Sustainability Practices
According to Delaney, we will see more and more SMB owners committing
themselves to sustainability strategies because they extend the efficiency and
value of products and services. Improving social and environmental conditions
is fast becoming the soul of a local or global SMB enterprise.
Green Initiatives
Being environmentally conscious is not only good for our
well-being, it's even better for our planet. So, we'll see more green
initiatives put into play in the future, and consumers will begin to expect it.