Hot Business Trends

Question: As a small business owner, what trends should I be aware of as we start this New Year?

Answer: According to America’s Nonprofit Entrepreneurial Education Network, here are six you might consider:

  • Virtual Business Mentoring Sources: entrepreneurs need someone who is experienced and can be confidential about their communications to test ideas, learn from and solve operating issues: SCORE, Small Business Development Councils, Women business centers and your local Chamber are a few to consider.
  • Business assistance programs: there are online communities tailored specifically for Veterans, Small Businesses (SCORE), Women, Youth and Minorities that can provide one-on-one or group
  • Alternative Funding: raising capital today is changing as well: merchant advances, supplier credit, AR financing, and crowdfunding are all available.
  • Keep overhead costs down: outsourced services or virtual office solutions continue to offer benefits for small businesses to lower operating costs.
  • Cloud-based applications: there are new small business apps that look as though they will improve efficiency in areas of bookkeeping, expense control, CRM and project
  • Network, Network, Network. Remember the broader your personal reach is the sounder your base of information as well as gather and decision making will become. 

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